Temporary/Long Term Seller Financing - It's a well known fact that owner financed properties sell faster and for more money than your typical conventional transactions. However, most homeowners/sellers want to get paid today. This is a strategy where you get the best of both worlds...sell at a higher price and collect the sale proceeds at the time of closing or soon after.
Here's an example of how it works...
Basically, you (seller) set the sales price (should be the appraised value), get a down payment, and create a 1st Mortgage Note that an investor will purchase for up to 95% of face value. As the seller of the property creating temporary financing for your buyer, you will hold the note for 30 days (or as long as you want) after closing and then sell if to a Note buyer. The Note buyer will pay anywhere up to 95% of face value of the note depending on market conditions, loan to value ratio's, credit score of Payor, interest rate and terms of the note. Contact me for details on how to get maximum resale value for your note.
Realtors will be paid out of the down payment monies or may agree to take a note on their commission. A note can be a great way to make interest on your money; however, if you (as a realtor) decide to take a note make sure it's secured by the real estate so that you WILL get paid.
* Higher sales price
* More interest in the property
* Faster Closing & Lower Closing Cost
* Easier qualifying than that of Conventional Financing
* Funding for fixers that may not otherwise qualify for funding
* More lax underwriting standards = More Qualified buyers
For a Detailed explanation of these options check out www.thenotecapital.com