This is when a real estate buyer finances the home they want to purchase directly through the person or entity selling it. This often occurs when the prospective buyer cannot obtain funding through a conventional mortgage lender, or is unwilling to pay the prevailing market interest rates. The seller may agree to owner financing if he or she is having difficulty selling the property. Owner financing may only cover part of the purchase price, with a smaller bank loan making up the difference. Also known as “creative financing” or “seller financing”.
Owner financing is common in a buyer’s market. In order to protect his or her own interests, the seller may require a higher down payment than a mortgage lender would. Down payments of 20% or more are not uncommon in owner financing. The deed to the property is usually not transferred to the buyer until all of the payments have been made, but because no institutional lenders are involved, the overall terms of financing are much more negotiable, and can be set up to provide benefits to both the seller and the buyer. The buyer saves on points and closing costs, while the seller can obtain monthly cash flows that provide a better return than fixed-income investments.
“Jessica was a great match for us! She helped from the first second to the last. She listened and responded to our needs, wants and wishes. From the initial meeting to the staging process, and pictures and finally posting the house and contacting potential buyers she kept us posted and updated. We couldn’t have been more grateful :)! Joel & Dhurata Dobbins”
True professionals that are passionate about their business.
I never hesitate to refer a relocating client to Amanda and Team. They have proven systems for both buyers and sellers and deliver top notch customer service throughout the process… and most importantly RESULTS! The Amanda Howard Team are true professionals and masters of their craft!
AHRE is an amazing company to work for!! They really take a vested interest in making sure they find and train the right people to fulfill the company’s mission and values. I’m honored to be apart of a team so well respected in the community.
Amanda Power went far above what I would expect from an Agent. Always available and always has our best interest in mind.
Great. Always available when needed. Treated us like family.
Y’all were very helpful in our search for a home. Natalie made the process easy and was very communicative.
Just bought a house with Glinda. She was great. Some tough situations came up, and she got us through everything. Helped us a find a place exactly like we wanted in the area we wanted too. Highly recommended
I’ve been part of Amanda Howard Real Estate for 8 years now and still love to come to work everyday. Amanda and Travis has created a great place to work, learn and grow. They continue to seek and search for bigger and better ways to grow the company as well as each of us individually. I don’t know of any other company that will invest the amount of time and money in their people like they do!
I’ve never felt more taken care of in the process of selling my house. Thanks Michelle. You are a rose among real estate thorns! I can’t express my gratitude with words to describe how you’ve helped me with closing a chapter in my life with the sale of my late fathers house. Thank you.