All Posts Tagged With: "take"
What are the pros and cons of owner financing?
There are several potential pros and cons for sellers, at least. You will get a steady monthly income. You won’t have to worry about the buyer qualifying for financing, or as much financing. Tax obligations may be stretched out in certain cases — see a tax pro for details. But, it could also happen that: [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
What’s a seller “take-back?”
A seller “take-back” works like this: Imagine that a home is worth $300,000 and has an assumable $100,000 mortgage. Instead of going to a lender, the seller “takes back” a note, secured by the property. For example, the seller might take-back a note for $270,000 if you will put up $30,000 in cash. In other [...]
26Aug2008 | Peter G. Miller | 0 comments | Continued
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