6. Guarantees. You ask what guarantees your buyer can give that you will ultimately receive payment in full. The short answer is none. Unless your buyer pays you all cash, you face a serious risk -- on a monthly basis -- that you may not get paid in full. After all, you are dealing with a stranger -- and one who presumably is in the business of buying and selling houses. If there are any tricks -- and if the buyer is not completely reputable -- they will use every trick in the book to take advantage of you.
My bottom line is to stay away from these types of transactions. While they appear attractive, there are too many pitfalls.
If you are desperate -- and still want to go ahead with such a transaction -- please consult your legal and tax advisors before signing anything.
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