Just because a property isn’t listed with “Seller-Financing Available” or “OWC” doesn’t mean the Seller wouldn’t welcome the conversation. Especially if the property has been on the market for several months!
Buyer Overviews
Buyer Overviews for RealtyPact and the Seller-Financing of Real Estate
Contract Durations and ‘Balloon Payments’
It’s quite common for Land Contracts and seller-financed Real Estate Purchase Agreements to have a contract duration of 3 to 5 years with a buyout clause — often called a ‘balloon payment’ — due at the end of that time.
Let’s examine why that structure is common, and why it doesn’t always have to be that way, either.
Overview: Land Contract Real Estate Sale
What should a Buyer and Seller expect when they create a typical Land Contract for real estate? Let’s examine the standard process:
Overview: Seller-Financed Mortgage Contract
The following is an overview of the process that a Buyer and Seller can expect when they undertake a real estate sale using a Seller-Financed Mortgage Contract:
Buyer’s Pros and Cons: Seller-Financed Mortgage Contract
Are you considering buying a home through a Seller-Financed Mortgage Contract with you getting immediate rights to the Deed while the Seller takes a mortgage interest in the property? Review the positives and negatives to consider before you begin.
Buyer’s Pros and Cons: Land Contract
Are you considering buying a home under a Land Contract? Review the positives and negatives that should be considered before you begin.