Seller financing is one of those alternatives I’ve seen come up more often in conversations lately, especially when buyers want to bypass the banks and move quickly. Here’s the gist: with seller financing, buyers purchase homes directly from sellers—no traditional mortgage, often through a land contract. It can speed up the sale and trim down closing costs, which is tempting in a fast-paced market. But make no mistake, there are real risks: buyers could default, and costs might be higher than you’d expect with a standard loan. After 35 years in the mortgage world—nine of those as a Top 10 National Broker—I’ve learned that clear terms and solid legal advice are non-negotiable with these deals. No shortcuts here; experience counts when structuring something outside the norm.
Leave a Reply