The interest rate a seller agrees to accept when providing owner financing to the buyer has a large impact on the note’s value. Unfortunately, many sellers overlook this important decision. Why Private Mortgage Note Interest Rates Matter Inflation Fighter Each year it seems the cost to buy the basics just keeps going up. It’s not your imagination; it’s inflation. In fact in … [Read more...] about Seller Financed Notes and Interest Rates
Seller Financing Tips
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...] about Safe Seller Financing Tips
Avoid Three Seller Financing Mistakes
Would you rather have $97,000 to sell your $100,000 note or only $80,000? The difference in usually comes down to the big three. Here’s the three biggest mistakes note sellers make and how to avoid flushing money down the drain. Mistake #1 – Failing to Check Credit The payer’s credit report lets you know how timely they have paid bills in the past. This is a good indicator of … [Read more...] about Avoid Three Seller Financing Mistakes
5 Reasons Owners Offer Seller Financing
Why would a seller allow a buyer to make payments over time for the purchase of property? Wouldn't the seller rather get paid now and require the buyer to obtain a bank loan? Here are 5 reasons property owners offer seller financing: 1. Reduced Marketing Times What is the first thing a real estate agent does when property is not moving and has been on the market for 60 to … [Read more...] about 5 Reasons Owners Offer Seller Financing
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 … [Read more...] about What is Seller Financing?