Buying or selling a home is usually the most significant investment decision most people will ever consider, which will in most cases involve some financing options. Owner financing is an alternative to traditional mortgages. Owner financing is when a property is sold directly from the seller to the buyer with no finance intermediary like a mortgage lender or bank. Whether you are buying or selling a property, there are many cost-saving reasons to consider owner financing to purchase and sell residential and commercial properties. Also called seller financing, the owner financing process involves the seller of the property extending credit to the buyer to purchase the property, with the buyer agreeing to make payments directly to the seller until the property is paid in full. Owner Financing Can Benefit Both Buyer and Seller Owner financing can be a risky option for both the buyer and the seller, but the potential upsides are worth the risk for many people. Understanding the reasons to consider owner financing in Albuquerque will help prospective property sellers and buyers make the right choices for their particular circumstances. Whenever participating in such a large purchase, especially without the backing of a bank or other moneylender, both sides should seek legal counsel to make sure the contract is drafted agreeably in the best interests of both parties, on a short-term and long-term basis Benefits of Owner Financing for Buyers in Albuquerque
Benefits of Owner Financing for Sellers in Albuquerque
Property Owners Can Trust Owner Financing in Albuquerque A valuable tool to use when purchasing real estate, owner financing allows you to buy property without borrowing money through a money lender or bank. Owner financing can save both the buyer and the seller time and money. Both parties come together to agree on the terms of the sale and work out a payment plan until the property is paid off. Learn More If you are in the market to purchase property and are interested in whether owner financing might be right for you, contact a member of the Sunwest Escrow team today!
Original Source: https://sunwestescrow.blogspot.com/2019/11/reasons-to-consider-owner-financing-in.html
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AuthorSunwest Escrow, Inc. is a customer-oriented servicer of private mortgages, real estate contracts, and other installment type notes. Sunwest Escrow, Inc. was formed by the owners of Sunwest Escrow, LC in order to provide a wider range of financial products. Archives
October 2018
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