It's a well known fact
that owner financing sells properties fast......especially with properties or prospective buyers that do not
conform to traditional lending/mortgage requirements. Until
now the big problem with this approach has been that the typical
property seller does not want to collect monthly payments and
probably needs or wants to cash out at closing -- to pay off the
existing mortgage, to cover all closing costs, to purchase another
property, or for any number of other reasons.
Sellers now have access to our unlimited fund sources and
can use our unique Temporary Seller Financing strategy to sell a
property at top price, and still generate cash at closing!
In fact, offering owner financing puts you in much more control
of the terms of your sale because you are now offering something
that the buyer cannot get otherwise.
Here's how it works:
-
The seller advertises his property for sale with "owner
financing for qualified buyers". This will generate
immediate interest in the property.
-
With the help of Shore Financing, you can get an
interested buyer qualified and note terms established with one
of our funding sources. The qualification process is much
simpler and cheaper than with a bank or other traditional
method.
-
The qualification is completed and a contract is signed so
that the seller knows the mortgage note he is about to create
will actually be sold.
-
The deal proceeds to closing much faster than with a bank
(typically about two to three weeks).
-
At the closing, the mortgage note is created between the
buyer and seller. Immediately, the note is
sold to our funding source, generating the cash needed to pay
closing costs, an existing mortgage balance, realtor fees,
etc.
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