Sunwest Escrow, INC.

Sunwest Escrow is here to help you through the home buying and selling process. We’re available to answer all your questions regarding real estate contracts and owner financing. We recommend that all prospective buyers and sellers first understand the details of a real estate purchase agreement and why it’s perhaps the most important contract in the transaction.  The Need of a Real Estate Purchase Agreement  A real estate purchase agreement, also referred to as a real estate contract, is a key part of your real estate transaction. This is a written contract between buyer and seller confirming that the property will be sold for an agreed-upon amount. To be legally classified as a real estate purchase agreement, this contract must meet four specific requirements: It needs to follow all legalities regarding the purpose of the agreement. It must be in writing. It must list proof of offer and proof of acceptance. It must identify which articles of value will be ex...

Why Opt for Owner Financing Homes Albuquerque? Instead of borrowing money from a commercial lending office and obtaining a mortgage, a buyer can choose to purchase an owner financed home.  During this process, the current property owner lends either a portion or all the funds required for purchasing the house. This is becoming a popular alternative to normal real estate transactions, especially in times when the area is considered to be in a buyer’s market. Types of Owner Financing There are many types of owner financed homes.  The three most common are land contracts, lease-purchase agreements, and mortgages.  Land contracts provide the buyer with an equitable title until the buyer has paid the owner for the full amount of the property.  At that time, the new owner would then receive the deed. The seller and buyer could also choose to commit to a certain type of mortgage known as an all-inclusive mortgage or all-inclusive trust deed.  In these insta...