Florida Owner Finance

Buyers Advantage for Owner Finance & Seller's Advantage to Owner Finance

These are general advantages for buying owner finance.  They do not necessarily reflect any laws in your state.

You should also read "OWNER FINANCE SUGGESTIONS"

Buyer's Advantage: - this is pretty easy and summed up with just two words "easy qualifying". Generally the seller will not verify employment, income or your credit.  If you like it, want it and can pay the down payment, it is yours.  The seller generally doesn't report your payments to the credit bureau so you are not improving and or hurting your credit.

However; if you pay your mortgage to the seller, in a 3rd party verifiable fashion, check is the most common, after a year or 2, a mortgage company may and can use your payment history to provide a lender mortgage for you.  These mortgage companies generally do these types of loans as a "refinance" so in most cases there is no Down Payment or closing costs required.  In some cases you can actually get cash out.

Many people buy a home, or other property, Owner Finance and then refinance it at a later date.

So, if you don't qualify now, you can still have your own home..

SELLER's Advantages are numerous:

• quick sale
• down payment is great for cashflow
• you can make a profit on the monthy payments
  
• still your asset and looks good on your balance sheet
• real estate is still the safest investment
  
• many individuals buy an owner finance property, keep it for a few years, and then just move on giving the home back to you
• so you get to sell it again at the current market rate.
  
• most owner finance homes are sold 3 times before they are paid of or refinanced