If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.

Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.

Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.

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Bill and Debbie Nelson, CRS ,GRI, REALTORS
Marsha Dorris, GRI, REALTOR
Weichert, Realtors - Lake Realty
6268 S. Kings Ranch Rd., Suite #12
Gold Canyon, AZ 85118
602-300-2777
602-686-6989
480-213-7275
Fax: 480-452-0938
Email: movetogoldcanyon@NUMBER1EXPERT.com

THE NELSON & DORRIS TEAM - a Priceless Combination in Gold Canyon, Apache Junction and East Valley real estate. Bill & Debbie Nelson and Marsha Dorris find few things more rewarding than helping people connect with their dreams. Whether you are looking to buy or sell a permanent residence or a vacation home, your move is sure to be a rewarding experience with these seasoned professionals by your side.