Several Reasons to Using Notes to Sell Your Real Estate ...albeit : ~Single Family Property ~Mobile Home in Community Parks~Manufactured Home w/Land ~Rental Property~
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Both Buyer and Seller can make substantial savings in closing costs.
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The interest rate is negotiable, repayment schedule, and other conditions of the loan.
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The Buyer can request special conditions for the purchase, such as inclusion of household appliances.
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The borrower (Buyer) does not have to qualify with a loan underwriter.
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There are no PMI Insurance premiums unless negotiated.
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The Seller can receive a higher yield on his/her investment by receiving equity with interest.
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The Seller could negotiate a higher interest rate.
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The Seller could negotiate a higher selling price.
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The property could be sold "as is" so there will be no need for repairs.
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The seller could choose which security documents (mortgage, Deed of Trust document, etc.) to best secure his/her interest until the loan is paid.
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The number of potential buyers increases substantially.
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Closing in much quicker than with bank financing.
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The note can be "sold" and converted into a "cash settlement" at any time.