First let me say this. if you are a seller, selling using creative finance is not with out risk. But, you may consider the advantages.
First, you may end up with more for the home.
In this market selling this month may net you 5% more than selling next month. So if you lend the buyer 10% of the purchase price to buy a home you may only be lending him 5%. But wait homes many times are sitting on the market for 6-12 months, if prices continue down and the buyer defaults, you can still walk away with more money than you may have.
Seller carry backs are tax deffered
You may be able to save a bunch on taxes by offering seller financing. I have seen cases were the tax saving were as much as the seller finaning. (consult your tax advisor on this one)
You may need to invest the money somewhere anyway.
Why not get a much higher rate of return on a seller carry back mortgage?
Keep in mind, much of the money would have gone out to pay taxes, you could be getting interest on money that you would have just paid out in taxes!
A chance to help people
Many people have been shut out of the home buyers market. As many as 4 times as many people can buy a home with a little seller financing.
for more info visit my websites at:
www.2ndchancemortgage.com or
www.homevalueshuntingtonbeach.com
or just call me at (866) 404-2898
This is Rich Littlefield wishing you a very blessed day!
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