How does seller finance or owner finance work ?

  • January 23 2009 - Phoenix
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Answers (1)

Seller Finance is a non-institutional loan in a real estate sale between the buyer and seller.  In a Seller Finance transaction, the seller becomes the lender and the seller’s security is the property.  It differs from a traditional loan, because it does not involve a bank.  The seller extends credit for the purchase of a property to the buyer and agrees to accept buyer payments for the purchase of the property over an agreed-upon period and on predefined terms.  This approach provides buyers an alternative financing option and helps to close many deals that may not happen otherwise.

  • January 23 2009
  • 1Yes

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