Updated almost 2 years ago on . Most recent reply
Seller financing-Funding a deal
How does seller financing work in regards to equity?
If I use seller financing to own a property, do I build equity even if I sell before the mortgage is paid off?
I am looking for more details on how seller financing works. Any help is appreciated!
Most Popular Reply
@Eric Justice
Seller Financing is identical to any other type of financing. The difference is the lender is not a bank, but an individual or abother company
The purchasing process should be 100% the same for you as a buyer as it would purchasing any other property with the exception that you would want to get an appraisal (where as typically the bank would).
Everything should still be done through a title company and you own the home - so you can sell it at anytime and keep any monies if greater than what you have left on the loan
- Chris Seveney
