There’s a Canadian buyer I’m working with that has purchased over 30 homes this year alone . . . and he’s never qualified for a single loan. How is he doing it?
He has the sellers carry paper (take back a note, owner finance, etc.)
Seller financing won’t work for short sale or REO properties, but it will potentially work in all other transactions. If the seller has equity, good underlying financing, or some combination of the two, then a foreign buyer can come in and easily buy the property without the hassles and expense of obtaining traditional financing.
It can be such a win-win solution, and I’m seeing more of these all the time. Every day I get emails from people all over the country that are exploring the idea of offering seller financing so they can sell their home for a decent price in today’s market. Because most of these sellers already have some sort of financing in place, many times we’re using the land trust system.
But it’s not always necessary. Sometimes a wrap (AITD) or simultaneous sale of a real estate note will do the trick. For help in putting your seller financing deal together, email me for a quick consultation!
Canadians . . . quit worrying about the difficulties and expense of traditional financing! Seller financing can be the perfect tool for foreign buyers in today’s market.