No money down home seller financing techniques and common misconceptions. Home seller gets zip, nothing, no cash, is one of the big misconceptions that you may have when you purchase property with no money down. While this is true with some of the techniques, there are many that allow the seller to leave the closing table wearing a rather large smile and with cash in his/her pocket. The best part is that the cash doesn’t come out of your pocket. Hope you’re smiling!
The seller must be a down and outer.
Flexible home seller financing exist for many reasons; not all of them are down on their luck. As a matter of fact, one of the best no money down purchases that I have seen first hand was from a good friend who closed a deal on a two family home, which she purchased from a man who had accepted a position on the west coast. His job required that he move away from St. Louis, and he was interested in selling all of his property in as short a time as possible. She heard about this seller and was able to come to terms with him to buy his property after just several hours.
This was not at all an unusual situation. As a matter of fact, a case could probably be made, that more flexible sellers exist because of emotional dissatisfaction with the property or their life situation, than flexible sellers who are down on their luck.
The techniques will not work with inflexible sellers.
Because home sellers can walk way from a closing table with cash in their pockets, you can purchase a seller’s property creatively even though the seller was inflexible and interested in a more conventional sale.
The other important thing to remember is that while a seller is inflexible today (or so the seller may say), that situation may well change within a few days or weeks. Seller’s circumstances, emotions, and needs change rapidly. A seller may be inflexible today, and yet very eager to sell the property creatively tomorrow.
Bad Credit Mortgage Financing Techniques
The following bad credit mortgage financing, no money down techniques are described in detail so that you may apply them immediately to your needs and goals in acquiring real estate. Eventually, you will probably use different aspects from several techniques. Each technique will give an in-depth example, but please make note, since interest rates rise and fall continuously, the percentages used in these examples were selected for illustration purposes only. The actual rate you offer will vary depending on the current interest rates and the flexibility of the seller.
At the end of each technique I will list the best specific situation to apply the current technique in aspect to the buyer, the seller, and the property.
Remember, the techniques can be combined, expanded, or contracted in their actual use. The techniques, as disused through this website, are designed to stimulate creative thought.
With that in mind lets get the wheels a turning, click the link below to view our first technique.
Home Seller Financing Misconceptions To New Mortgage