September 29, 2017, BY BOB BULLINGER If a person wants to buy a home but lacks the qualifications to qualify for a traditional mortgage, or lenders choose to not lend in the lower price band markets common in many areas of the Mid West or South, signing a Land Contract is another option for purchasing property. A Land Contract is a written agreement between the seller of the property and a … [Read more...]
What is Seller Financing?
When a seller allows a buyer to make payments over time for the purchase of property, it is known as owner financing or seller financing. This private financing by the seller can take the place of a bank loan or be in addition to a conventional mortgage. The payment amount, interest rate, and other terms are agreed upon between the buyer and seller. The amount financed by the seller will depend … [Read more...]
Safe Seller Financing Tips
It’s a tough time to sell a house. Hoping to stand out from the crowd, sellers are advertising "Owner Will Finance!" Accepting payments over time provides buyers an alternative to bank financing. Of course sellers don’t want to trade a house that won’t sell for a buyer that won’t pay. Before you agree to "Be the Bank" read these 7 Tips For Safe Seller Financing! … [Read more...]