Updated almost 6 years ago on . Most recent reply
Seller Finance Question
Newb question I’m sure but I’ve never done a seller finance deal. I get the concept but I had a MF deal sent to me.. can’t agree on a price with the seller. I aaked if seller finance was an option and their only response was “Assumable loan of xyz” - whole I understand assuming loans.. I’m not understanding how that exactly would work? I take over his loan.. how does he benefit from that? How does that deal work out for him?
Most Popular Reply
It also works out to the seller's benefit if they avoid any prepayment fees by letting you assume the loan.