Being creative in the market place is a part of our job. As a professional real estate agent in this market we have to think outside the box to be successful. Owner financing may benefit your seller if their home is not selling. Owner financing is also known as Contract for Deed. This contract offersthe purchase of real property in which the seller retains the deed to the property. The purchaser immediately takes possession of the property but the deed is not transferred until all or part of the purchase price has been secured. This benefits the buyer, when the buyer is unable to obtain financing other than owner financing. This can be a win win for both parties.
Group1 Real Estate, selling houses in Salt Lake City Utah - Salt Lake City, UT
Salt Lake Homes For Sale, Salt Lake Real Estate
Gerri;
We did a lot of this in the days prior to the due on sales clause being a part of the transaction.
How are you advising clients on each side to protect themeselves?
This could be a great way to help get out of this mess.
Feb 10, 2010 04:04 AM
Eastwood Homes - Simpsonville, SC
This is something that must be disclosed to both sides so they know the risk that is involved. I always recommend they talk to an attorney ahead of time so both parties are clear on what is involved.
Feb 10, 2010 11:39 AM
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