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Answered 2007-11-11 12:58:07

Owner will carry - means that the owner will hold the note for financing. This can be advantageous due to the leniency of the owners financing criteria, lack of down payment requirements and other issues a typical mortgage company would rather not deal with. However, It will not be reported on your credit report as typical mortgage would. If this is your first purchase, I would recommend that you not attempt this on your own. There are several aspects to real estate that could overwhelm someone with no experence in that field. Ask a friend who is a realtor or loan officer to assist you.

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There are many advantages and disadvantages of owner funds. The advantages and disadvantages of owner funds depends largely on the person.


A turnkey contract is one in which an independent agent agrees to furnish materials and labor to finish a project and then turn it over to the owner for a fixed price. Advantages for the business owner: No outlay of cash until the project is done. Advantages for the one making the project: Gets a lump sum payment when the project is turned over to the owner. Disadvantages for the owner: Trusting someone else to deliver a quality project. Disadvantages for the maker of the project: Outlay of cash for materials at the start.


owner will provide 'seller financing" a purchase money mortgage. it could be either a 1st or 2nd mortgage. Seller is willing to provide some of the financing or all of it so conventional financing(banks) are not needed. You sign a promissory note with the seller an IOU a promise to pay.


unlimited liability which is a financial risk as the owner may lose all their possessions


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advantage-avoid paying interest if the owner takes out a loan hope this at least helps


I think it may mean that the seller of the vehicle will "hold the loan" or will let the buyer make payments to them and once paid in full, seller will then sign title over to buyer.


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If a Trust is the registered owner, then it would also be the legal seller.



That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.That means the owner-seller has agreed to take a second mortgage that will be a junior lien to the primary purchase money mortgage.


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No. Sometimes legal documents will do this, (Buyer, Seller, Owner) but in general it's not necessary.


When the owner carries the paper that means that the owner will finance the deal. The owner becomes the mortgage company.


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I presume owner carry homes are kind of apartments so you can get equity line of credit .


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