Every one fraction here is REI club.com. The only site you need as a real estate investor. In today's quick video, we're going to talk about seller financing and some of the quick pros and cons. Now, seller financing is pretty much alone where the seller in a transaction offers the buyer a loan, so the buyer does not have to obtain one from the bank. Okay, now usually, the buyer will put down some kind of down payment to the seller and then make installment payments usually on a monthly basis over a specified time and at an agreed-upon interest rate. Now, to do this until the loan is fully paid off or until a new loan is put into place to retire the seller's loan. Now, seller financing is an alternative worth considering when, say, the buyer has no cash for a down payment sufficient to qualify for a conventional loan, the buyer is simply unqualified for conventional financing, the property is one that conventional financing will not finance, or the property has simply been on the market for far too long with little buyer activity. Now let's go to jump into the seller financing pros. Since you are the lender, okay, the terms in this deal are far more flexible and negotiable. Also, the seller may be in a position okay, to command the full list price or higher. So you can get a higher sales price. Also, you qualify for certain tax breaks and also collect monthly income higher than usual, okay, so on top of the rent because of certain interest rates and fees, you're going to be able to collect higher monthly rent. Also, you have favorable returns, okay, higher interest rates because owner financing can carry a higher rate of interest compared to,...
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Property Purchase, Sale, and Sale Contract Conditions — Zillow — Buyer Mar 28, 2024 — Pros and cons of real estate sale offers. One of the most important factors is that you use an acceptable amount of money, How to Negotiate Real Estate Contract For Better Offers — The New York Times Mar 25, 2024 — The best way to win over the seller is to show them you are qualified to buy what they're selling. It helps to show the Pro: Verbal Contract With Sale Option — RIM Apr 5, 2024 — Many realtors are wary of using a verbal contract when working with first-time buyers, but this might change as their Seller-Buyer Agreement Can Be a Negotiation for Home buying Success — CareerBuilder Mar 19, 2024 — Most sales contracts are verbal contracts. The seller may agree to sell the house, but they may also insist on being paid upfront for their initial payment, Realtor Requirements for Selling Real Property Without Selling Written Offers — Cappex Feb 4, 2024 — In today's competitive housing market, sellers have to understand what they will get out of a deal, and that can mean How To Negotiate Terms That Make You Price Match or Even Superior to the Buyer — Zillow Jan 31, 2024 — One advantage of a verbal contract is that it can be more cost-effective if things go south. That said, if you do decide to sign Rental Contracts: Pros and Cons — The National Real Estate Institute Jan 9, 2024 — While the rental property does offer great advantages for prospective homeowners, it can be difficult to find the right Pro: Real Estate Agreement to Give You the Best Buying Option — Realtor Network Oct 5, 2024 — What's better than a verbal agreement with a buyer? When it's written down, it's not quite as effective as the Sellers Must Have Contracts to Protect Them from Sellers — Realtor Network Jul 6, 2024 — The rules for selling real estate contracts vary based on location and the type of real estate being offered.
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