11/10/2023
The practice of seller financing goes by many names, including purchase-money mortgages and owner financing. But in its simplest terms, it describes a form of real estate lending transaction in which a property owner also serves as a mortgage lender. This unique situation in the home selling process eliminates the need for a financial institution to handle financing agreements and negotiations. While seller financing effectively sees a seller provide a buyer with direct financing, it comes with pros and cons attached, as does any nontraditional mortgage option. it’s important to do your research and consult with a qualified professional before entering into a seller financing agreement.