Seller financing is an alternative way to buy real estate without relying on traditional bank loans. Instead of borrowing from a lender, the buyer makes payments directly to the seller over time. This method can benefit both parties—buyers gain easier access to property with flexible terms, and sellers can earn interest while attracting more potential buyers.
Here’s how to make seller financing work for you: (1) Negotiate Terms – Agree on the down payment, interest rate, and repayment schedule. (2) Draft a Contract – Work with a real estate attorney to ensure both parties are legally protected. (3) Verify Property Value – Conduct inspections and appraisals to avoid overpaying. (4) Consider an Exit Strategy – Plan to refinance or pay off the balance within a set timeframe.
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