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Real Estate Tips
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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Real Estate Trivia
Q 
What recent hit movie features a field trip scene that supposedly takes place at Columbia University in New York?

A 
The scene in the movie "Spider-Man", where Peter Parker shoots photos of Mary Jane and is bitten by the spider, was actually filmed in the Museum of Natural History in Los Angeles, California.
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CT Luxury Group, REALTOR®, real estate agents and broker for Darien, New Canaan and Stamford, Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)

CT Luxury Group
William Pitt Sothebys International Realty

26 Cherry Street
New Canaan, CT. 06840
Phone: 203-219-3075
Fax: 203-972-6123
Email: CTLuxuryGroup@NUMBER1EXPERT.com

The CT Luxury Group team provides local community expertise with expansive international reach and the most sophisticated expertly integrated marketing resources in the world. Global real estate strength. Unmatched personal and confidential service. Let us put our power to work for you. We would welcome the opportunity to represent you.

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