Seller Financing: What You Need To Know
Seller Financing Advantages For Sellers
Seller financing may prove a good option for those wishing to lend money. Select upsides associated with providing it include:
Ability to save on closing costs
Can produce significant capital gains tax savings over time
Faster time to sale, and ability to sell your property as-is without the need for repairs
Released from property tax, homeowners insurance and various maintenance expenses
Option to sell the promissory note to an investor
Seller Financing Advantages For Buyers
Buyers may also enjoy several benefits should they elect to buy an owner-financed home, such as:
Greater access to financing opportunities, especially for low-income buyers
Lower expenses associated with closing costs
More flexible agreement terms
Potential for no PMI premiums
More accessible for those with poor credit