Q – I inherited my parent’s house and I know someone who wants to buy it. He mentioned in passing that he would like me to provide the financing – not a bank – and he wants me to carry a note for the payments due. I may consider this, but I am afraid that I will make a serious mistake because I have not done this before. Can you give me your thoughts?
A – Good for you being cautious. The simple thought I will share is for you to know your buyer thoroughly – just like a bank considering a loan. When negotiating, be fair but demand terms that protect you. Call me and I will give you some particulars – the do’s and don’ts.