how do you go about carrying the paper for a home you want to sell?

  • Thread starter Thread starter Candy G
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Candy G

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I own a home and I want to sell it.. how do you carry the mortage for the buyer? Can someone please explain the process and is it adviseable if you know the buyer can't qualify for the full amount. Can you sell for $190,000 and carry a note for $30,000 . I'm new to this and need all the help I can get.Also I don't need the money from the sell right now but could use the income. The person I'm thinking of doing this for is 70 yrs old, what happens if they pass away or are unable to make the payments?
 
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