Have you considered an Agreement of Sale?

By
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
   perform
* 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.

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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
info@SoldOnParadise.com
www.SoldOnParadise.com

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