Buying or Selling a Home/owner finance

Advertisement


Question
we are looking to buy a home in lake city, Floridav. It is owner finance.
I was told that even if you agree to the terms they want that the sellers can still refuse to sell to you. Is that true?

Answer
Yes.
Naturally, if you do not qualify, in the owners mind, to repay the mortgage then they can reject the contract.
There are several other reasons for rejection, depending on the location, development, age, pet restrictions, etc.
If they want to sell it to you they will, if not, find something else.
Best of luck,
Ted

Buying or Selling a Home

All Answers


Answers by Expert:


Ask Experts

Volunteer


Ted Lewis

Expertise

Can answer most any residential real estate question and more specifically questions about South Florida Real Estate. Massachusetts Real Estate Broker, Massachusetts Construction Supervisor and Florida Real Estate Broker. Have personally owned and sold hundreds of homes and at one time owned and managed 100's of apartment and well as did condominium conversions.

Experience

Homes, condos, construction, real estate law, apartment ownership. Can refer buyers and sellers to capable agents in South Florida -- am not actively seeking clients for my own account.

Education/Credentials
Many education courses in regards to Real Estate and Banking. Attended Harvard and Princeton Universities.

©2016 About.com. All rights reserved.