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Answers (3)
- Bob Willett, "SacRELender"
- Contributions:194
I really don't think they prefer seller financing. However if they know what they are doing, the probably know that almost all sales are cash or seller financing. My guess is that they would view a transaction not involving cash or seller financing as a transaction with very little chance of actually closing.
- Hamp Yonce, "Zilluminati"
- Contributions:3463
Basically, because A&D Money, and Residential Construction Money, are as scarce as Bigfoots, stretched, or not.
- SoCal_Engr
- Contributions:5669
Are the developers buying the land, or selling the land?
I have seen smaller spec builders who want the owner to carry the note. Usually, it's because the spec builder's aleady stretched on other projects or has shaky credit due to bad spec builds. The downside to this is that the builder has already demonstrated a propensity to take on inappropriate risk, or default on obligations.
I have seen smaller spec builders who want the owner to carry the note. Usually, it's because the spec builder's aleady stretched on other projects or has shaky credit due to bad spec builds. The downside to this is that the builder has already demonstrated a propensity to take on inappropriate risk, or default on obligations.
Why do land developers prefer to use owner financing to sell land?
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- 0.0/5.0
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