Fred Haywood is committed to helping you buy or sell your dream home in the highest professional manner, with total integrity and knowledge. Fred Haywood has sold over seventy million dollars worth of residential properties in just the last five years, and is ready to help you will all your real estate needs. Just call Fred... he has been making it happen in real estate on Maui for over twenty-five years, and he can make it happen for you!
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Financing Your Home >Owner Financing
If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.
Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.
Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.
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In what area of the United States did the price of existing homes increase most dramatically in 2005?
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Phoenix, Arizona real estate recorded a 55.2 percent increase in home prices during 2005. |
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