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Real Estate Tips
Financing Your Home >Owner Financing

If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.

Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.

Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.

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Real Estate Trivia
Q 
Originally incorporated under the name Georgiana, what is the oldest incorporated city in the United States?

A 
York, Maine, which received an English charter in March 1642, is the oldest incorporated city in the U.S.
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The Abraham Team, REALTOR®, real estate agent and broker for Weston, Pembroke Pines and Miramar, Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

The Abraham Team
The Abraham Team @ Keller Williams Properties

1625 North Commerce Parkway, Suite #105
Weston, FL 33326
Phone: 888-388-7356
Fax: 954-358-6022
Email: harveyandarianne@NUMBER1EXPERT.com


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