Seller Financing May Not Be A Bad Idea: Part 2 Qualifying a Buyer

If you own a property with no loans or a small loan amount.  Seller financing might be something to consider.  One advantage is you can get a steady income and the other is your tax consequence will be less than if you sold the property for cash.

Qualifying a buyer:  he simplest way to qualify a buyer is to let a professional qualify the buyer.  You can get a loan agent to qualify your best candidate for no cost at all or maybe for a fee such as $500 or 1% of the loan amount plus loan application fee, you can get the buyer qualified like a conventional lender, although your requirements might be a little more flexible, lower down payment, not quite as good credit score, self-employed.  In return, you could charge a higher interest rate to the borrower.  Any fees can be charged to the borrower as part of their closing costs.

In Part 3  I’ll go back to the idea of seller financing and why it might not be a bad idea.

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