Seller financing involves the previous owner of the property, the seller, making a loan to the buyer so that this individual can purchase the home for sale. This is a legally binding note that usually holds the home as collateral. Sellers may do this in order to sell quickly, obtain a higher purchase price, or simply because they wish to own a mortgage note that will generate income.
Filed under Funding
Related terms
- Underwriting2023
- Term Financing2023
- Subject to Deal2023
- Secondary Mortgage Market2023
- Refinance2023
Have a deal that needs funding?
Brokers send a deal to Think, get an indicative term sheet from the borrower’s numbers, and move to a lender when the packet is complete.
See Think Premier LOS