| Owner Financing |
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Sellers looking for prospective owner financing clients should know that most people looking for owner financing will have some negative items on their credit report. Buyers looking for owner financing should be ready to place with their seller a down payment. Down payments, terms and interest will vary depending on whether you are signing a lease-option or lease-purchase and the individual circumstances surrounding your transaction. Owner financing can be a win-win situation for both Seller and Buyer. Don't make it a win/lose situation by entering into any transaction without first doing your homework and consulting your advisors. Never take shortcuts or the easy way out. Each side should have legal representation representing their best interest look at all documentation. Have an attorney conduct a title search and the closing. Buyers should always request an owner's title insurance policy which will cover hidden defects not traceable by your attorney when searching public records. Our mission at FinanceWithOwner.com is to scour the internet and provide you with links and information to enable you to begin the education process. Be sure before signing any documentation to contact your legal representative and certified public accountant to check for legal and tax ramifications if any. |
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