Successful OWNER FINANCE transaction

By
Real Estate Broker/Owner with TechTown Realty, Licensed in Texas 578384

Thanks to all of you who have called me with interest in buying an OWNER FINANCED home in Lubbock.  I have shared with you through these posts the challenges and limitations of buying a home with OWNER FINANCING.***  There are hoops we have to jump through but I know there are so many folks who want to own a home who have been shut out of traditional lender financing due to credit requirements. 

GREAT NEWS is I successfully put a buyer and seller together on an owner financed transaction and they will close next week!

I am still working with several people, looking for an owner financed home that is a fit.  I am actively seeking sellers who would finance the sale themselves.  When I hear from other Realtors about a motivated seller, I always inquire if that seller would owner finance.  So just know that I am an advocate and really want to make more win-win-win deals in the owner financing arena in 2011.

Buyers- contact me if you want to find about about homes available in Lubbock.  Please read other related blog posts so you'll understand the challenges such as FEW homes to choose from and MORE money needed up front. 

Sellers - if you own your home outright or your lender will allow you to do a wrap mortgage, owner financing will bring you a bevy of buyers - in many cases it would make it possible for you to sell your home in 30 days!

***Please scroll through my other blog posts and read all the ones about Owner Financing.  Once you grasp the pros and cons you can decide if you want to call me.

Mary Benton, Realtor - Keller Williams Realty

790-1026

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Rainmaker
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Virginia Gardner
Roy Wheeler Realty Co. - Charlottesville, VA
Realtor, Charlottesville, Serving Central Virginia

I try to convince all sellers, if they don't need their equity, to offer to hold paper.  I know business people who have gotten rich doing this.  I'll be interested in perusing your other posts.

Jan 14, 2011 03:37 AM #1
Anonymous
Mary B

I am glad that you are talking to your sellers about it.  Yes, some folks make a goodly amount of money this way.  AND help people who can't  qualify with today's standards buy a home.  AND I get to play matchmaker for unique buyers/sellers.  Have a great 2011 Virginia!

Jan 14, 2011 07:19 AM #2
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Rainmaker
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Mary Benton

TechTown Realty in Lubbock
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