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Real Estate Tips
Financing Your Home >Owner Financing

If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.

Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.

Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.

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Real Estate Trivia
Q 
What was the first land designated by the US government as a National Park?

A 
Yellowstone was established "as a public park or pleasuring ground for the benefit and enjoyment of people" in March 1872.
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Klaus Breitsameter, REALTOR®, real estate agent and broker for Germantown, Frederick and Gaithersburg Maryland home listings, property and land for sale - NUMBER1EXPERT(tm)

Klaus Breitsameter
RE/MAX Realty Group

6 Montgomery Village Avenue Suite 200
Gaithersburg, MD. 20879
Phone: 301-921-2681
Email: klausb@md-dreamhomes.com

Klaus Breitsameter is a full-time, licensed real estate professional with RE/MAX serving clients in Maryland, the District of Columbia, and Northern Virginia. No other local agent comes even close to personally making 30,000 cold contacts each year. Klaus canvasses area neighborhoods by knocking on hundreds of doors each day announcing his listings, prospecting for buyers.


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