Seller Financing - Six Safety Tips
By Steve Gillman
Why offer seller financing when you sell? You get a higher price, a good return on your money, a faster sale and you can sell a property that's otherwise difficult to sell. Some great reasons, now how do you do it safely?
1. Large down payment. The most obvious way to be safe, but not always possible.
2. Other security. If they want it with a low down payment, and you like the return you'll get, make it safe by putting an additional mortgage on other property the buyer owns, to be released when they've paid down the balance to a certain level.
3. Credit check. Have the buyer pay for and bring you a credit report. Bad credit might be okay, but the type of bad credit is important. Unpaid, disputed hos...
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