Does anybody can help and explain what does it mean: "Seller Finance (No money from you) we pay you the interest and the principal" and what is the lease/rent to buy. Thank you
2007-09-19 10:39:52 · 4 answers · asked by angel 2 in Business & Finance ➔ Renting & Real Estate
Seller finance means, the person who is selling the house will give you the loan. If there is an existing loan which sounds like there is, then they would take the money you pay them and pay the payment on that loan. Not all lease/rent options are the same, so please have someone who understands the language review it before committing to it. What should happen is the payments you make should be applied to the purchase price. Plus make sure you are deeded onto the property from the beginning. Do some more homework.
2007-09-19 10:47:32 · answer #1 · answered by Brain 4 · 0⤊ 0⤋
Seller finance means the owner lends you the $$$ instead of the bank .
The rest of it is standard ID theft scam to get your info and wipe you out .
Real seller financing does NOT pay You the principal and interest ,
You pay them since they are acting as the lender .
>
2007-09-19 10:46:36 · answer #2 · answered by kate 7 · 1⤊ 0⤋
Scam. And if it wasn't then being financed through a seller usually has a higher rate.
2007-09-19 10:53:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Makes no sense to me. Frankly I think it's a scam and I would avoid it altogether.
2007-09-19 10:43:51 · answer #4 · answered by Alterfemego 7 · 1⤊ 0⤋