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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127729  
Subject: Re: Land Sale Date: 5/20/2013 3:08 PM
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A buyer who cannot get a mortgage may very well have few assets.

Or they are trying to buy a rural property that does not fit a conventional mortgage formulaic approach. We couldn't get a mortgage on our place though we had enough assets to pay cash for 10 such places. We figured if we decided to sell and the mortgage mess still was not resolved, we would just hold the note for the next buyer.

Be very careful about the credit rating of your buyer. This works best with someone your know and trust.

I'll second check their credit, but IMO it works best with someone you don't know. Just make sure there are repercussions to late payments and make sure you hop on those late payments ASAP. Don't ignore.

IP
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