Seller Financing: Coming Back Around
I was recently speaking with the managing editor of Inman News, exploring the possibility of becoming a columnist for them around the topic of seller financing and real estate notes as I believe the message to be very apropos. Creative financing is coming back around. Why not educate people about how to use these strategies safely?
Not only have many buyers and sellers begun to express excitement about the information I am providing, but I have been contacted by several real estate professionals that are getting on board, as well.
Because I was curious about how often the LA Times had published articles talking about Seller Financing, I dug around in the archives at LATimes.com. Here are a few that popped up on my initial search:
Jun 5, 1988 – Home Buying Creativity Can Bridge Lack of Cash Series: Last of four articles on bridging the affordability gap – DAVID W. MYERS
May 21 1989 – House Not Beyond Reach of Most – ROBERT J. BRUSS
Jun 25, 1989 – There Are Some Tricks to Finding and Buying Seller-Financed Homes – ROBERT J. BRUSS
Apr 15, 1990 – Home Seller Can Be Good Source of Financing Second Mortgages: With the market slowdown, more sellers are offering to carry back loans to help buyers consummate the deal. – DAVID W. MYERS
Jun 24,1990 – Seller Financing: Panacea in Slow Market Mortgage: Both buyer and seller benefit from this type of financing. To secure it, buyer should include this condition in the purchase offer. – ROBERT J. BRUSS
Jun 24,1990 – Five Basic Ways to Get Financing for the Purchase of Real Estate – ROBERT J. BRUSS
Dec 8, 1991 – Carry Backs Offer Buyer, Seller Benefit – DAVID W. MYERS
Mar 6, 1994 – High Risks Involved in Owner Financing – HOME EDITION
Oct 16, 1994 – Q&A: Real Answers. Buyers who don’t have 20% to put down on a home often are attracted by seller financing. – HOME EDITION
Dec 3 1995 – Your Mortgage; Creative Financing Can Benefit Both Home Buyers and Sellers – DIAN HYMER
Oct 8, 2000 – Real Estate Q&A: What It Means When the Seller “Carries Back a Second” – ROBERT J. BRUSS
Sep 9, 2001 – Your Mortgage; Don’t Hesitate to Ask for Seller Financing – ROBERT J. BRUSS
Jul 22, 2007 – Housing Scene; Safeguards are key when seller assumes the role of lender – LEW SICHELMAN
Seventy-five percent (75%) of the articles were published between 1988 and 1995, which corresponds with the last down cycle in the real estate market. Now, we’re starting to see them emerge again, and for good reason. The real estate market is in dire need of creative financing strategies.
Buyers need to know how to buy, sellers need to know how to sell, and everyone needs to understand the associated risks and rewards and how to set up the transactions properly.