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What are the disadvantages to the seller when they are carrying the financing for a house?
If the seller has a mortgage on the subject property and the person who is buying it from him does not make the monthly payment, the seller is obligated to pay. The seller is holding all of the risk under his credit profile while hoping that the other party will pay. The seller risks the other party destroying the property. If the other party doesnt pay, seller will have to attempt to sell his propety again and may have to update or do repairs to make it attractive.
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What are the benefits of accepting a cash offer on your house as a seller?
Accepting a cash offer on your house as a seller can provide benefits such as a quicker and more certain sale, avoiding potential complications with financing, and the ability to negotiate a potentially higher price due to the convenience of a cash transaction.
What does "cash offers only" mean when buying a house?
"Cash offers only" means that the seller of the house will only consider offers from buyers who can pay for the house in cash, without needing a mortgage or other financing.
What is the maximum duration for financing a house?
The maximum duration for financing a house is typically 30 years.
How does owner financing work?
Owner financing is a method of financing a house or other item without using the assistance of a realtor or broker. Be sure to use a bank that is familiar with working with individuals for financing.
Does in-house financing impact your credit score?
Yes, in-house financing can impact your credit score. When you use in-house financing to make a purchase, the lender may report your payment history to the credit bureaus, which can affect your credit score positively or negatively depending on how you manage the payments.
What are the benefits of accepting a cash offer on your house as a seller?
Accepting a cash offer on your house as a seller can provide benefits such as a quicker and more certain sale, avoiding potential complications with financing, and the ability to negotiate a potentially higher price due to the convenience of a cash transaction.
What does "cash offers only" mean when buying a house?
"Cash offers only" means that the seller of the house will only consider offers from buyers who can pay for the house in cash, without needing a mortgage or other financing.
What is the name for a house seller?
a seller
What is the maximum duration for financing a house?
The maximum duration for financing a house is typically 30 years.
What is the official name for a house seller?
a seller
In real estate what does Ctg stand for?
CTG is an abbreviation for "contingency". The contingency could be a house to sell, house to close, financing, or short sale. This usually means the the seller has accepted a contract based on a contingency. Depending on the type of contingency, and terms of the accepted contract, the seller may have the option to continue to show the property in search for a non contingent offer.
What are the disadvantages of house journal?
help advantages disadvantages of house journals
What are disadvantages of house journals?
help advantages disadvantages of house journals
How does owner financing work?
Owner financing is a method of financing a house or other item without using the assistance of a realtor or broker. Be sure to use a bank that is familiar with working with individuals for financing.
Does in-house financing impact your credit score?
Yes, in-house financing can impact your credit score. When you use in-house financing to make a purchase, the lender may report your payment history to the credit bureaus, which can affect your credit score positively or negatively depending on how you manage the payments.
Where does the down payment go - to the seller or the bank?
The down payment goes to the seller when you buy a house.
If you are buying a house on contract can the seller make you pay 'mortgage Insurance' on top of the mortgage payment?
Yes, It is typical and customary of all mortgages, does not matter who is doing teh financing. It sounds like the buyer is assuming the seller's mortage. Assuming the buyer has agreed to assume the seller's mortage, if the contract is silent about the mortgage insurance, then it depends if the mortgage insurance is considered part and parcel of the mortgage, or if it is a separate commercial instrument, and thus severable from the mortage.
