What is owner financing?
Owner financing, simply stated, is a seller willing to help a buyer by financing part or all of the purchase price. Usually, the buyer makes a down payment and the seller will carry a first mortgage, second mortgage or an Agreement for Deed (also called a Land Contract). What do Lease Option Agreements Consist of? A Lease Option agreement is usually two separate agreements between the parties: a Lease and an Option Agreement. The Lease Agreement is a fairly standard rental agreement. The Option Agreement is a purchase/sale agreement whereas the tenant/buyer has the exclusive right to purchase the house for a specified price and term. The price of the home may increase if the Option Agreement has a term of many months or years. The seller cannot sell the house to anyone else as long as the Option Agreement is present. The tenant/buyer leases the house for a specific monthly rent and term. Part of the rent may or may not be applied to the purchase price. The Earnest Money Deposit (also c
Owner financing is the easiest way to buy property; it’s extremely simple. Owner financing is when the owner of a property extends credit to the buyer by accepting monthly payments and holding the deed as collateral until the property is paid for in full. Owner financing is very similar in nature to an auto loan, where the car title is used as collateral.
Owner financing is the easiest way to buy property; it’s extremely simple. Owner financing is when the owner of a property extends credit to the buyer by accepting monthly payments and holding the deed as collateral until the property is paid for in full. Owner financing is very similar in nature to an auto loan, where the car title is used as collateral.
Owner financing is the easiest, simplest way to buy property. We own the land, and you would like to buy the land. We sell the land to you, and all you need to do is make a down payment and monthly payments. Because we finance the land for you, you don’t need to qualify for a bank loan. You don’t even need to fill out a loan application. Everyone qualifies!
