Owner Financing Agreement a symbiotic tool in a tight market
In an environment of tight credit, squeezing out money can be a difficult task. Especially, in terms of investing in something as big as real estate, borrowing money is not easy.
Stringent conditions from banks, along with all the paperwork can really get on your nerves. But there is a way where you do not have to run from bank to bank in order to find the best deal.
It so happens that a seller of a property, who wants his property to sell fast, is looking to finance you. It is called Owner Financing, and you could see a sample by searching Owner Financing Agreement Printable Free.
The advantages of such an agreement
This is a way by which it not only helps him sell the piece of property; it provides you with some major advantages.
Some of these advantages are:
- Attractive rates –
Since the interest rates at banks are high, the owner will be willing to offer you the financing at lower rates
- Lower down payment –
Since the owner is looking to sell, he will let you make a down payment that is not too hard on your budget
- Income for the seller –
You will pay back for the house you buy with interest, and therefore, owner financing is profitable for the seller, especially in case of monthly repayments
- Less hassle –
Here you do not have to run around with all the paper work the bank needs or an attorney needs.
Decide on what the terms of payment should be, arrive at a mutually beneficial timeline of repayment, and get a template off the internet by typing of Owner Financing Agreement Printable Free. It is that easy!