Why Owners Finance

By Author: Why Owners Finance
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Owner financing is one way you can sell a house faster in a slow housing market. At the closing table, we learned that he had signed documents from the buyer stating that he represented them and we had signed documents stating that he represented us. We also learned that the buyer had effectively put down approximately 3-10% of the purchase price when financed closing costs were factored into the equation.
Lately this has been the case with droves of homeowners whose adjustable rate mortgages threatened to make their homes unaffordable and therefore sought to refinance their homes with a fixed rate mortgage which - although higher in interest than the initial adjustable rate mortgage - promised stability in a market where interest rates were beginning their steady trek upward.
Businesses that advertise seller financing along with their sale generate significantly more inquiries as well as a 15% higher sale price. There are many benefits, as well as some risk, to seller financing, so it is important that both the buyer and seller feel comfortable in the transaction.
Owner financing is when the property owner ...
... acts as a bank and loans the purchaser the money to purchase the property. For more information, please visit our website http://anyhomeownerfinancing.com/