You’ve decided to put your home up for sale. Now, how are you going to make the most money selling it and get it sold the fastest? Perhaps you should consider providing owner financing, also known as seller financing.
Why Isn’t The Buyer Getting Bank Financing?
Usually a buyer gets bank financing when buying a home. If the buyer approaches you with a deal that involves you doing the financing, you’ll want to ask why.
It could be that they can’t afford a big down payment, and can’t be approved for a loan without it. Or, they may not be able to get financing at all, due to no credit or bad credit.
In that case, you’ll want to evaluate if you can afford the risk. Can you make the monthly mortgage payment in the event they default?
If you determine that the deal isn’t too risky, you can finance…
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