Why and what is Seller Carryback or Private Financing?
While financing options are consistently loosening up, it’s still really hard for many buyers to obtain a mortgage:
Foreclosure or Short Sale? – It’s not a secret that so many people in AZ have either a foreclosure or short sale on their credit. There is a seven year restriction for these buyers to be seasoned, meaning eligible for a conventional mortgage.
Self Employed? – It’s really hard for us self employed, entrepreneurs to qualify for a mortgage.
Want to negotiate a better deal? – do you have 20% to put down on an mortgage? If so, private financing could be very lucrative for you. No lender fees. Looks like cash to a seller so you can negotiate a better deal than if you were obtaining a mortgage.