Seller Financing, HOW TO DO IT

[Catherine Morel]

Hello BP!

If a seller has a property free and clear how do you structure a seller financing in order to not get a bank loan??

[Don Konipol]

@Catherine Morel

Essentially the seller acts as the bank. The transaction is two fold. The purchase is part 1, with the financing part 2. It all happens simultaneously at closing.

In many if not most states the state promulgated purchase contract, or the contract used by the Association of Realtors has an area or addendum where owner financing can be made part of the offer.