Key Benefits of my recent seller financed purchase

[Jose Bernard]

Seller financing is a great option for both buyers and sellers in the real estate market. This is when the seller provides a loan for the buyer to purchase the property. It offers benefits for both parties and is becoming increasingly popular in today's market. For buyers, seller financing can offer many advantages. I recently purchased a Triplex using seller financing. I found the deal through a wholesaler; the purchase price was $400k with 10% down 360k seller financed at 3.9%.

One of the biggest benefits of seller financing was that it helped me get into an investment property with a smaller down payment. Because the seller provided the loan, it allowed me to put a smaller amount down instead of the standard 20% to 25% downpayment, which was incredibly helpful. 

Another benefit of seller financing is that it provided more flexibility when it came to the loan terms. Since the loan came from the seller, he was more flexible when it came to the terms. This can be helpful for buyers who may not qualify for traditional financing or don't have the best credit score. They may be able to negotiate a better interest rate or longer repayment period.

Finally, seller financing offered a quicker closing process. Since the loan came from the seller, I didn't have to go through the usual process of getting approved for a loan through a bank or mortgage lender. This made the closing process much faster and easier for me.