Owner or Seller Financing also called Owner Carry is when the seller or owner of the property being purchased offers the buyer a loan rather than the buyer obtaining one from a bank. To a seller this is an investment in which the return is a guaranteed interest. For a buyer it is often beneficial because they can purchase real estate without using a bank. In general the loan is secured by the property being sold. In the event that the buyer defaults the property is repossessed or foreclosed on by the seller (lender) exactly as it would be by a bank.

Seller/Buyer benefits:

  • Both the buyer and the seller can make substantial savings in closing costs
  • They can negotiate interest rate, repayment schedule, and other conditions of the loan to the benefit of both parties
  • The buyer can request special conditions for the purchase
  • The borrower does not have to qualify with a loan underwriter
  • There are no PMI insurance premiums unless negotiated.
  • No Bank Fees   

 

Owner Financing offers:

No Debt to income ratio calculation requirements

No employment history required

Self Employed -OK

No Credit History Required

No Appraisal required

Can close in as little as 5 days

Negotiable terms

Negotiable Interest Rates

Negotiable Balloon payments

Ability to purchase more properties than allowed by tradition underwriting guidelines

Investors can use leverage to purchase multi unit/multi properties

Owner financing offers an alternative to conventional bank financing that may make your next real estate purchase easier and more profitable.

 

Syringa Realty is Idahos #1 source for owner carry properties.

 

Step by Step  HOW TO BUY

 

STEP 1  You must have a minimum of 15% of the purchase price available for a down payment. A even higher down payment amount will allow you to negotiate better terms with the seller. 

STEP 2  Submit a search request (see below) and we will set you up with automatic emails that will show you all the available owner carry properties in SW Idaho as well as update you with any new listings before other buyers have a chance to view them.  In the comments please specify the area and price range you desire. (You can opt out any time) 

*We are available by appointment 7 days a week to show you property.

Step 3   Select the property you want to purchase and make an offer (We will prepare an offer with the terms you want and present it to the seller for consideration)

*** Closing can take place in as little as 5 days.

Not to Worry. We will assist you throughout the whole process. You will always have the opportunity to review all documents and financial information prior to signing.

Step 4   Close the transaction and start enjoying the property you now own.

 

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