Seller Financing: How It Works and Is It the Best Move for You?

Have you ever considered seller financing? When dealing with seller financing, the loan is provided by the seller of the property where the purchaser of the property will make monthly payments to the seller with an agreed upon interest rate over the course of specific time period.

There are many benefits to both the buyer and the seller when entering into this kind of transaction. For the owner, this kind of financing can be an interest-earning investment. For the buyer of the home, this could be a great chance to buy a home if one has a low credit rating and will only qualify for limited mortgages.

Before entering into a seller financing agreement it is important to do your homework (for both the buyer and seller). The seller should evaluate the buyer’s credit history and check the potential buyer’s employment history and references. The buyer should verify the home is legally owned by the owner and make sure there are no liens against the home.

Are you interested in purchasing a seller financing home? Check out this gorgeous 7,881 square foot home with 6 bedrooms and 3.5 bathrooms (MLS #1157242). Home includes a heated driveway, spacious fitness room, private backyard with pool, sport court, sand volleyball, and playground.

List price: $1,100,000

Take a tour of the home here and give us a call today at 801-721-7282 for more information.