Jacksonville, FL (PRWEB) December 23, 2009
In a time when qualifying for a conventional loan is difficult and selling a home can be challenging, many buyers and sellers are discovering owner financing as a win-win solution. While owner financing is not a new concept, the current housing market has led both buyers and sellers to find innovative solutions that work in everyone’s best interest. SellFinanced.com now has over 17,000 listings and is one of the leading websites specializing in matching sellers with buyers who are seeking owner financing.
“We are revolutionizing the owner financed real estate industry by providing innovative search tools and promoting legal ways of structuring transactions,” explained a spokesman for http://www.SellFinanced.com.
A properly constructed owner-financed sales contract will benefit both the buyer and seller. The terms of a seller-financed property are more agreeable to both parties involved because they are customized to both individuals’ needs and wants. The buyer’s direct communication with the lender/seller allows the parties to directly negotiate mortgage terms including interest rate, down payment and loan term – without paying commissions or transaction fees to a middleman.
While banks require an above-average credit score, substantial down payment, a strong job history with verifiable income – owner-financing sellers qualify buyers based on their judgment.
Sellers benefit by being able to sell their property more quickly, deferring capital gains tax and earning interest for years to come. In addition, sellers could receive a higher yield on their investment by receiving their equity with interest and by selling for their actual asking price.
Buyers benefit because they are able to purchase a home with a smaller down payment, lower closing costs and potentially lower monthly payments. In addition, most sellers are far more flexible than typical lenders and do not require any loan origination fees.
While the owner financing concept sounds inviting, many buyers do not know how to find seller-financed properties. http://SellFinanced.com is dedicated to providing information about owner-financed homes and properties. The site allows users to search the nearly 17,000 active owner-financed listings nationwide by price, down payment, monthly payment and location. For those buyers and sellers looking to learn more, SellFinanced.com also offers a dedicated owner-finance forum as well as help guides and videos on how to legally structure owner-financed transaction.
by Monika Bernthal