Points to Keep in Mind Before Offering Owner Financed Homes
Owner Financed Homes in Albuquerque In today’s real estate market, many owners are selling their homes with only the help of an escrow company. These sellers could also offer to finance the home for the buyer. This enables the buyer to avoid getting a loan from the bank because the original owner will lend the buyer the total purchase amount. Owner financed homes can help both the buyer and the seller. The buyer has the advantage of a faster closing process with lower closing costs, a flexible down payment and the ability to work directly with the previous owner until the contract is fulfilled. The seller also benefits because they can sell the home faster, minimize carrying costs and use the buyer’s down payment to pay their own debts or put a down payment on another property. But before offering owner financing, Sunwest Escrow of Albuquerque believes that there are a few points both buyers and sellers should know. Points to Keep in Mind Before Offering Owner Financed Hom