Chapter 4: Faster Closings with More Buyers When you eliminate the bank from the equation, you cut out delays, paperwork, and the risk of financing falling through at the last minute due to appraisal contingencies, financing contingencies and whatever other nonsense a bank can come up with to delay a deal. When you become the bank and use seller financing you automatically KNOW for a fact that if the buyer comes up with the down payment as agreed, you CAN close as scheduled without any surprises, stress or worries. That is because YOU are the decision maker, you decide when the loan is approved, you are the appraiser, you are the one in control by utilizing a seller financed note the proper way if buyers come through with their side of the deal you can close at anytime you like without worry a third party appraiser or bank official stands in your way, this great peace of mind and control of the deal is worth using seller financing alone!
Seller-financed properties can often close in a fraction of the time it takes for traditional deals for all the reasons noted above and more! This appeals to motivated buyers — and allows you to move on faster.
Plus, because many credit- worthy individuals don’t fit neatly into bank standards (think self-employed buyers or those with recent life changes), your property becomes instantly more appealing.
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