Can we use private financing to buy real estate?
August 27th, 2008 By Peter G. Miller
In theory, yes. In practice, few homes are financed with loans from sellers or other individuals.
According to a 2010 report by the National Association of Realtors, 96 percent of first-time buyers, 86 percent of repeat purchasers and 91 percent of all buyers required financing. These numbers suggest that very few buyers have friends, relatives, or other parties who would have the cash available to finance the purchase of a home.
See: The Home Buying and Selling Survey (2010 edition), page 70.
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