When it comes to buying and selling a property, there’s a process most of us are familiar with. This process usually involves all of these parties:
Now here's the typical process:
This process requires a lot of time for both parties to keep up with the documents and actions required by the bank with hopes that the transaction doesn't fall through.
The BIG question is... Is there a way to do a real estate transactions that allows both parties to win without a traditional bank in the picture? The answer is YES!
One of the most common types of these transactions is seller financing!
Seller Financing, also known as owner financing or seller carryback, is a real estate agreement wherein the seller allows the buyer to buy the property in installments over time rather than having to wait and endure the long and demanding underwriting process of a bank. Therefore in a nutshell, the seller has been upgraded to the lender instead so like any other lender, a promissory note and a deed of trust will be created stating the monthly payments, repayment schedule, and consequences of default.
Here at We Love All Homes, we care about creating win-win situation ensuring everyone walks away happy. We offer different solutions with hopes that we’ll be able to cater to your needs of selling your property in an efficient and stress free process. If you have any questions or want more information, our team is willing to hear your questions and assist you in every step of the transaction. Give us a call at (469) 278-5635, to verify if this is a great fit for you!
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