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Updated over 5 years ago on . Most recent reply

Syed Almamun's profile image
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Syed Almamun
  • Real Estate Agent
  • from New York NY (brooklyn, ny)
  • Member since Jun 7, 2019
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Syed Almamun
  • Real Estate Agent
  • from New York NY (brooklyn, ny)
  • Member since Jun 7, 2019
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Syed Almamun
  • Real Estate Agent
  • New York NY (brooklyn, ny)
1
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Real Estate Agent

Seller financing good or bad?

Syed Almamun
  • Real Estate Agent
  • New York NY (brooklyn, ny)
Posted

One of my client is buying a single family with seller financing. What are the drawbacks for buyers? What should we be watching out for? Interest rate is good and 30 years mortgage.

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Aaron K.
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  • from Riverside, CA
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Aaron K.
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Aaron K.
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Aaron K.
  • Specialist
  • Riverside, CA
Replied

Usually the interest rate is higher than what would be available from a bank, I'd just make sure you read the terms of the loan as well, you wouldn't want a massive prepayment penalty or something like that.

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