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home insurance rates average

home insurance rates average

Owner financing a single family home in Texas?

I have a tenant who wants to buy my house with owner financing in the State of Texas. The house is fully paid. They seek to put down 10% of the sum of 175K. They want a loan of 15 years January 2011. I am 55, which means I'm going be 70 before it is paid. What kind of interest rate should I charge. Is the Texas Homestead Act protect them in case they exclude on the property. What is the average time to expel? Is the 10% to cover me? Buyers insurance pay the market prices ... correct? Quickclaim form seems interesting. Do I need a lawyer to write the contract?

Is there any reason they can not obtain a traditional mortgage? This would be a big flag to why they are seeking financing owner. I do not want to be wicked, but it seems that hope you die and they will not have to pay ...