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.
The home buying process is very overwhelming and confusing with all of the paperwork that is constantly needing to be approved and signed. Glinda, with Amanda Howard Real Estate, made this process as simple as she could and the e-signing helped a lot! As a first time home buyer, I’m very pleased with my experience.
Our agent (Whitney Stringer) was great! She was easy to work with and only showed us homes that we were interested in seeing. She even rearranged her weekend schedule to meet us when we came in from out of town to look at homes on short notice. She was professional, courteous, and a pleasure to work with. Because of here we would gladly work with Amanda Howard again in the future.
Y’all were very helpful in our search for a home. Natalie made the process easy and was very communicative.
Great. Always available when needed. Treated us like family.
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.
Excellent experience all the way around and sold our house quicker than we ever imagined!
Natalie Jones is amazing. She is extremely knowledgeable, professional, and lovely to deal with. She knows the Huntsville area market and will work very hard for you. Natalie always put our family needs first! She represented me in my first real estate auction experience. We won it and Natalie made it happen all the way through to closing, very smooth with no surprises. You can’t go wrong with Natalie and the Amanda Howard team of professionals.
This wonderful company was extremely helpful with the purchase of our new home! We worked with Whitney, she is very professional and personable and now good friend. She always made time for us when we had questions or wanted to look at more houses. We would highly recommend her!
This is the premier real estate firm in the state of Alabama. I have the good fortune of being a part of this amazing team. If you are in the market to buy or sell a home, this firm should be your first stop. Customer service is our number one priority, from the first meeting to the closing table, rest assured your every need will be met. If you are looking for a career in real estate make sure this firm is your first choice.
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