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I am still wondering is there anyone out their who can give me some solid answers to the question that I posted?

Hey Sara,

I think that you misunderstood the spirit of my question. I am looking at this through the eyes of a investment buyer. It is important to a lot of investors that they never spend their own money nor use their own credit to finance a deal. With that being said, what other upsides do you gain buying a house through owner financing rather than getting a conventional mortgage?

smithsussane · Posted: Sun Sep 28, 2008 11:49 pm Post subject:

Hi Ryan!

Welcome to Forums!

The buyers will also get a number of facilities due to owner financing. Some of the facilities include less paperwork, easier to qualification requirements and shorter closing times. They can mutually agree on a down payment, interests on the loaned amount of the sale price and the payment schedule. All the details of the deal are written down and it is known as promissory note which the note buyers buy. A note buyer is a third party organization which pays the original seller the price of the note then takes over the payments from the buyer.

Feel free to ask if you have further queries.

Sussane

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

Lower closing costs I suppose.

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