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Episode 2: Owner Carry Financing

Browse any site that lists homes for sale and almost always you can find homes listed with Owner Carry terms. But what, exactly, is Owner Carry Financing? Owner Carry financing is used to describe any situation where the owner of a property is willing to finance all or part of the sale of a property for a buyer. Owner Carry financing can be structured a number of different ways. In fact, the terms: Rent to Own, Lease Option, Lease Purchase, Contract for Deed, or Installment Land Contract all refer to a type of Owner Carry financing. There are other terms used to refer to Owner Carry financing but those tend to be the most common.
 
 
Why would anyone consider using an Owner Carry?
 
 
 
 

  • The advantages of an Owner Carry for a seller are numerous. Owner Carry financing can help a seller attract more buyers, command a higher asking price, avoid some closing costs, and sometimes defer tax liability.
  • The advantages of an Owner Carry for a buyer are numerous as well. Owner Carry financing can help a buyer expand their buying power, lower their closing costs, negotiate better terms including interest rate, allow a buyer to enjoy some of the tax benefits of ownership, and much more.

Owner Carry financing can be a great way to purchase real estate especially if you have less than perfect credit. However, Owner Carry financed homes aren’t for everybody! I definitely recommend you consult an attorney, tax person, or other qualified professionals to determine if an  owner carry financed home is right for you.

You can find several good books that cover Owner Carry financing. I am always happy to recommend a couple. Feel free to contact me and I will be happy to point you in the right direction.

Thanks for reading this!

Joe Hildebrand
 
Joe Hildebrand is a real estate agent at RE/MAX Unlimited
 
Phone: 303-671-3078 joehildebrand@remax.net
 
Joe Hildebrand specializes in Highlands Ranch real estate, Highlands Ranch homes, Highlands Ranch realtor
 
Next Episode: How’s the Market in Highlands Ranch?  

 

10 Responses to “Episode 2: Owner Carry Financing”

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    http://www.PrimeLendingLV.com

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