Working together directly, a Buyer and Seller of real estate can create a legal contract with Seller-Financing to fund the transaction and avoid the costs and hassles of a bank-financed mortgage loan.
What Are the Steps in a Foreclosure Process?
If a Buyer and Seller enter into a RealtyPact under the Seller-Financed Mortgage Contract (SFMC) framework and the Buyer fails to make full payment as the contract requires, the remedy for the Seller to get paid in full is to file a foreclosure action.
The steps in a foreclosure case will vary from state to state, as each state has its own civil procedures and timing requirements. However, a foreclosure action will usually follow this process:
Seller-Financing and Real Estate Agents
While ‘Seller-Financing’ and ‘Realtor’ are options rarely considered together, they work well through RealtyPact to help Sellers get many types of properties sold.