Show137: How We Used Seller Financing to Secure a Great Buyer

Using Seller Financing



Often it can be thought that buyers are typically the ones who ask if seller financing can be an option.

The reality is that there are a variety of factors that have to be in place, in truth, for seller financing to work.

Things like the property being owned free and clear or with a very small mortgage are favorable things for seller financing to work.

Because the seller ultimately becomes the bank in a seller financing deal.

What is seller financing?

It’s ultimately when traditional banks are eliminated from the process and the seller of the property holds the mortgage note to the property and the buyer pays the seller each month not a bank.

So this is favorable for buyers especially because you have the chance to negotiate on interest rate, down payment, loan terms, etc. without having to adhere to government or Fannie/Freddie guidelines.

Recently we decided to put one of our properties on the market.

We originally bought the property with the intention to flip it and decided that we would hold on to the property as a long term rental for a period of time.

We had great tenants show up on our door step who from the beginning were using our house as a transition home from their thousand mile move back to the area to their forever house they planned on buying.

So we rented it out and once they had found their own home to offer on we put it on the market and had it under contract in 2 weeks.

In this podcast episode, we share how we negotiated the counter offers to include seller financing so that we could lock up this great, qualified buyer that we had.

Since we owned the property free and clear it was a no brainer for us to counter back with this and get the property under contract in our slow moving market!

Tune in to hear all about how we structured the deal.

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