[b:a55748ce7b]Owner financing[/b:a55748ce7b] or carry back loan is useful because:[list:a55748ce7b][*:a55748ce7b]It is a good source of income and helps to sell the property quickly as there is no fixed criteria for buying it.
[*:a55748ce7b]It becomes a good option when the property can't be financed by any means or when the owner has a lot of equity in his property but may not need the money paid by a lender at the closing of a mortgage.
[*:a55748ce7b]The rate of interest offered by a seller can be more reasonable than that offered by any other lender.
[*:a55748ce7b]If the prices in your area are high or if the sale price you aim at exceeds the estimated property-value, you can close the sale quickly by financing the entire part or a fraction of the purchase yourself.
[*:a55748ce7b]In case a buyer defaults, the deal ends. The seller can then keep whatever down payments and monthly installments the buyer has paid till that period, and sell the home again at its market price to another buyer.
[*:a55748ce7b]Since the seller can spread out gain for a long period or postpone all of it, therefore his tax liability is reduced.[/list:u:a55748ce7b]