Self Financing Can Go Bad
Seller-Financed Real Estate raises serious questions It is not uncommon for sellers to self-finance the real estate, both personal and business, that they want to sell. In many cases this may be the only way an owner can sell their property as many buyers cannot qualify for financing or the real estate will not satisfy the requirements of a lender. Also, buyers may not have the required funds for a down payment. So, how can the owner sell the property? They can carry the loan and self-finance the transaction. This means that the seller takes back a note (becomes the creditor) from the buyer to cover [...]