Owner Financing Provides A Way To Get Your Home Sold!
September 21st, 2008 categories: Featured Desert Ridge and Phoenix Real Estate, Seller Financing
With housing inventories at an all time high and banks tightening the guidelines for obtaining a mortgage, agents must think “out of the box” to help their clients sell their homes. Owner financing, a.k.a. seller financing is one such technique as it will open the pool of buyers who could purchase your home.
With institutional financing being a challenge to obtain, buyers are searching for creative ways to get into homes. Many of these buyers have a down payment and have good income, but they have a credit flaw from the past or perhaps they are self-employed and have a problem proving their income. As a seller, if you can provide the vehicle for them to purchase, your home will stand out from the others.
I am not suggesting that a seller would allow any buyer to buy their home on terms. A credit report is highly recommended and an application stating income, employment, etc. would also be advised. This process would be similar to how a bank reviews a mortgage application. The difference is that Read the rest of this entry »
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