QUESTION
How do I sell my seller financed house if the buyer defaults?
Asked on Mar 06th, 2017 on Residential Real Estate - Pennsylvania
More details to this question:
I setup seller financing for a house I sold in 1998, but the buyer never made any payments since. I want to sell the house to pay the delinquent taxes. I have an investor interested in buying. How do I go about selling my house to this investor?
1 ANSWER
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When you say seller financed, do you mean that you signed a land installment contract where you transfer the deed only upon full payment under the contract or do you mean that you have already conveyed the deed and took back a mortgage? The answer would be different under these two different scenarios. Why allow the default to persist for nearly 20 years?
Answered on Mar 06th, 2017 at 11:54 AM