HOW TO PURCHASE A EXECUTIVE HOME WITH 10% DOWN PAYMENT & NO BANK FINANCING

0 votes

October 7, 2011, by Jim Wood

Hey Folks...come on over to Spartanburg, SC. You can still get a good deal on a foreclosure or owner financed home in our area.

We know how to get the job done and Jim has over 33 years experience in creative financing.

The foreclosure market has slowed some due to the moratorium on foreclosures but they will be back to the regular number in a month or two.

Asking a seller to give you owner financing to buy a home can be a tricky proposition.

That's partly because if you ask the listing agent if the owner will carry some or all of the financing, the agent probably doesn't know. Why? The agent never asked.

If you ask the seller directly, the seller is likely to say no.

Sellers often reject the suggestion of owner financing because nobody has explained the benefits or proposed owner financing as a way to sell the home.

Most sellers don't sell a home every day. Their knowledge is limited to conventional practices where the buyer goes to the bank to get a mortgage.

Asking a seller to give you owner financing to buy a home can be a tricky proposition. That's partly because if you ask the listing agent if the owner will carry some or all of the financing, the agent probably doesn't know. Why? The agent never asked.

If you ask the seller directly, the seller is likely to say no. Sellers often reject the suggestion of owner financing because nobody has explained the benefits or proposed owner financing as a way to sell the home. Most sellers don't sell a home every day. Their knowledge is limited to conventional practices where the buyer goes to the bank to get a mortgage.

Jim Wood, Broker/Investor