Was that a person to person purchase of the house or did they go through some kind of intermediary. I am guessing you would need to have "buy in" on both sides for something like that to work. I know you get tired of me saying this, but I am still trying to wrap my head around how this works. It just feels too easy or too much like a free lunch to me. Give me a couple hours to crunch some numbers and I will see what I can figure out! :)
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I am not sure how the buyer and seller were brought together. The mortgage lender was involved.
At closing, the payout would likely be in USD with typical deed transference.
As these ideas expand and applications are built out, it will be easier to bring buyer and seller together.
In the end, as long as the seller gets paid, he or she doesnt care how the funds were financed.
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Okay, I was assuming it was a buyer to seller transaction with no middle man and the part I couldn't understand was why the seller would stake the down payment and allow the buyer to keep that interest as part of their payment. I mean if you are giving me 130k in HBD, I'd probably stake it for sure, but no way would I let you use the 20% towards what you owe me. I am guessing there are some details I am missing.
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No the seller is being cashed out in exchange for their house.
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