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While kids games and equip yourself to play with the willing to finance is critical Vacant land it's possible to wrap the mortgage without big boys! majormom@ilhawaii.net loans are scare especially for out-of-state lender permission, title companies will rarely Blog forward at www.hawaiianrealty.com cell 808-936-5100 FIND MY COLUMN EVERY SUNDAY OF THE MONTH. Watch "HAWAII LIFE" on YouTube! ED HAWAI'I LIFE REAL ESTATE BROKE hawaiianrealty.com 800-667-5028 ext. 8122 Denise S. Nakanishi RB-17031, ABR, CRS, GRI, SRS "Major Mom is a Major Difference" BEST Hawaii 25TM ANNIVERSARY 2022 East Pald Adorable Bungalow on Enos Rd hawaiianrealty.com hawaiianrealty.com Owner Financing Avail. Lovingly refreshed, ready for new finishing touches. 960sf features solar, fiber optic, & endless possibilities. 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Permit issues are another popular reason sellers finance . These fairly are straight forward reasons . But what about when the sellers owe more on the property than it's worth , when their property is distressed or when the property is overpriced ? These are situations when sellers tend to explore a creative sales approach . For a buyer , these offers should be considered with caution because there could be a " fudging " seller involved . Sales with an existing mortgage are pales in comparison with problems created when a seller stops making payments on the underlying mortgage . This begins a chain of events that leaves everyone distressed . Of course , there may be ways to address risks but it's never foolproof . Seller - financed properties generally do not ( but can ) include a formal appraisal so carefully consider information about comparable sales . There may be times when seller financing works best but be sure to consider the players and But not all marbles are regulation conveyed by way of an " agreement of sale " . understand why they are playing and by all marbles . In fact , players sometimes This involves " wrapping " the mortgage which means , hire a REALTOR® who understands " fudge by playing a " non - regulation marble . basically means that the buyer pays the seller this type financing and who can advise When this happens , the " pros " generally feel then seller continues to pay their note . Not about the advantages and pitfalls . In this all it's time to take their marbles and go home ! all lenders embrace this concept because important transaction , it's time to put aside Here's the thing . Knowing why a seller is such a sale further encumbers title . 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