Have you considered an Agreement of Sale?

Real Estate Agent with Coldwell Banker Island Properties RB-21063

What is an Agreement of Sale?
* An agreement of sale is a contract of sale between the seller (vendor) and buyer (vendee) for the
   purchase of real property.
* The purchase price may be paid in installments by either:  Great Idea
        Principal and interest or
        Interest only, with the balance due at maturity
* The seller retains legal title to the property
* The buyer is given possession and equitable title to the property
* The seller is obligated to deliver good legal title when the buyer
   completes the required payments

Seller Advantages
* Seller retains legal title to the property until the buyer is able to
* Can provide a higher rate of return on interest rather than placing
   your money in an interest bearing account
* Installment sale enables the seller to defer payment of the large
   capital gains tax

Buyer Advantages
* If the buyer is unable to qualify for an institutional mortgage this is an alternative means of financing
* Benefits:
        Reasonable financial terms
        Buyer could benefit from property value appreciation

If you don't currently qualify for a conventional mortgage, you might consider an Agreement of Sale. As with all contracts, it is strongly recommended you consult with an attorney familiar with real estate law.


If you are considering buying or selling a home, condo or land in the South Maui areas of Makena, Wailea or Kihei, or would just like to learn more about owning real estate in Hawaii, give us a call. Providing years of service with Aloha...we are your South Maui experts!

Mike Eddy     REALTOR®(S), ABR®, e-PRO
Sheryl Eddy  REALTOR®(S), B.A.
Mike    (808) 268-2219 Cell
Sheryl (808) 268-2220 Cell

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