The problem, however, facing many is that, even with a steady job, and a decent rental history, credit scores have suffered, dramatically. Coupled with the fact that banks and other traditional sources of mortgage financing have made their qualification standards more and more stringent, many find themselves seemingly stuck between a rock and the proverbial "hard place"!
Enter, the Seller-Financed, Installment Sale purchase. Also known as a "contract-for-deed", or "land contract", these transactions are structured … (0 comments)
The problem, however, facing many is that, even with a steady job, and a decent rental history, credit scores have suffered, dramatically. Coupled with the fact that banks and other traditional sources of mortgage financing have made their qualification standards more and more stringent,many find themselves seemingly stuck between a rock and the proverbial "hard place"!
Enter, the Seller-Financed, Installment-Sale purchase. Also known as a "contract-for-deed", … (0 comments)
seller financing: Seller-Financed Installment-Sales: Funny How Everything "Old" is New Again...
- 02/15/12 02:46 AM
Check out this Wall Street Journal article http://online.wsj.com/article/SB125147241384166991.html describing a creative financing technique which we have been using to expedite the selling of properties, for the past 25 years! The contract-for-deed, aka "land contract" or "installment purchase agreement" is an excellent technique, which allows us to accommodate a buyer with credit issues which preclude them from qualifying for an institutional mortgage..., but are otherwise sufficiently qualified in terms of income and housing/rental background. It works particularly well in tight credit markets, like we've experienced for the past 4 or 5 years! It is an excellent vehicle for investors wanting … (1 comments)
seller financing: What is Rent-To-Own?
- 08/20/11 05:24 AM
What is Rent-To-Own?"Rent to Own", otherwise known as "renting with the option to buy", is a technique where the tenant, in addition to a lease, is given the right or "option" to purchase the property at some point in the future.Here at Dennis J. Zisa & Associates, we utilize this technique in order to accommodate those who wish to own a particular home on a seller financed installment sale, but do not have the required down payment ($3,000-$6,000) which is needed for an installment sale purchase.With Rent-To-Own, you move into the home like you would any other rental, with just the … (2 comments)
seller financing: What is an Installment Sale Purchase?
- 08/20/11 05:23 AM
What is an Installment Sale Purchase? An installment sale, otherwise known as a "contract-for-deed", is a creative financing technique utilized in the purchase and sale of real estate. Because it involves "seller-financing", it effectively eliminates the need for the buyer to apply with a bank or mortgage company in order to get qualified for a mortgage loan. Here at Dennis J. Zisa & Associates, we specialize in this type of transaction. Because we deal with numerous investors and developers, we are in a position to list and maintain a constant inventory of homes where the sellers are willing to hold the financing, and accept the balance … (2 comments)
seller financing: Memo to Big Banks: If you don't want to cook, get out of the kitchen!
- 07/25/11 03:26 PM
Really guys, I've been wearing long pants for quite some time now...I can take it! And, believe it or not, most of my buyers can, too! So if you can't see your way clear to qualifying them for a mortgage loan, just say so! But, on the outside chance that you do actually issue a pre-approval, please don't jerk us around for another five months, while you pull out more and more hoops to jump through!
I can remember when a bank or mortgage company would run a buyer's credit, verify their income and the source of the down payment, and then give them a … (8 comments)
seller financing: WHAT IS AN INSTALLMENT SALE?
- 06/15/11 03:38 AM
What is an Installment Sale Purchase? An installment sale, otherwise known as a "contract-for-deed", is a creative financing technique utilized in the purchase and sale of real estate. Because it involves "seller-financing", it effectively eliminates the need for the buyer to apply with a bank or mortgage company in order to get qualified for a mortgage loan. Here at Dennis J. Zisa & Associates, we specialize in this type of transaction. Because we deal with numerous investors and developers, we are in a position to list and maintain a constant inventory of homes where the sellers are willing to hold the financing, and accept the balance of … (0 comments)
This economy has not been kind to potential home
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