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Originally Posted by greyeyes
well, I have come to understand that if you buy through the bank you will be spending significantly more money on the house than if you did owner financing.
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Over time, yes. However, if you don't already know the buyer and have this approved with them, I think you're going to find it nearly impossible to convince someone to go this route. I, for one, would never go for it, even with family member for the reasons that Cyn gave.
I think you may be stuck going the traditional route, although I would love to be proven wrong.