THINGS YOU REALLY NEED to UNDERSTAND
Owner Carry or Lease Option?
Problem created in the market today is that many people are doing owner-carry homes with underlying mortgages. In other words they are putting you in a "Wrap". No matter how you see it these typically are on non-assumable loans, which mean they are actually putting you in a transaction that they really can't do.
These have the potential to blow up in your face - because the underlying loans have "DUE ON SALE CLAUSES". This means they actually can take your home away you thought you were buying.
So - owner carry homes should be done only in the event the home is FREE and CLEAR with no existing loan.
Our agents and investors know what to do
Lease Options are a type of owner carry-
These types of contracts can be done with existing loans already on them and structured to protect all parties involved because it is based on a purchase at a FUTURE date that pays off the existing loan.
Disclaimer-
Upware marketing is not a Real Estate Company nor are we Real Estate Agents- We market for licensed agents and investors alike and make no representation that we can provide any Real Estate Service only direct you to someone that legally can
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