I'm selling my gulf front condo - it's currently under contract. But I found out yesterday, that the buyer's loan application was rejected by the bank. He's pursuing financing with another lender.
Late yesterday, my realtor had one of her contacts review the loan application (he's a mortgage broker...15 years with his company, prior to that 20 years as loan officer with a major bank.) He says that he sees no reason that the application should be denied. Anyway...if the buyer can't get conventional financing...if you were me, would you consider owner financing? The property is paid for. The buyer is putting more than 30% down. It's not my first choice...but...
Thoughts?
Thanks.
Late yesterday, my realtor had one of her contacts review the loan application (he's a mortgage broker...15 years with his company, prior to that 20 years as loan officer with a major bank.) He says that he sees no reason that the application should be denied. Anyway...if the buyer can't get conventional financing...if you were me, would you consider owner financing? The property is paid for. The buyer is putting more than 30% down. It's not my first choice...but...
Thoughts?
Thanks.