Legal Question in Real Estate Law in Georgia
Selling home and buyer wants to pay $9,000 down with us financing for 1 year, then buyer purchases after that. Is this a good idea?
3 Answers from Attorneys
That is not a legal question, but if all you are considering are the facts stated and looking for answers on the internet, it probably is not a good idea for you to do it. Are we supposed to just imagine things like price, value, etc?
Why is the buyer purchasing after 1 year? Is the buyer unable to secure financing for the property? What if the buyer is unable to secure financing after one year?
Usually deals like that have problems, but the only person who could answer that would be a lawyer who has actually read the details of the offer. You should NOT sell a home without a lawyer to review paperwork.
A likely problem: the only people who would do this would be people who cannot get bank financing and if they can't now, they probably can't a year from now.
But you need a lawyer. Do not sell a home without one. Do not sign anything without one.
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