Seller Fianacing Makes a Comeback
Seller financing, often called Land Contract or Purchase Money Mortgage, is often times an overlooked option for loans on commercial property. While not the right option for everyone, seller financed options are many times able to work in situation where lending restrictions are to tight to make a bank option feasible.
In today’s market this is often the case in property purchased for investment and not being owner occupied. Often times this is one on the only ways to fund such purchases.
Another use of seller financing would be in down payment assistance. The seller may be able to take a note for part of the down payment, freeing up cash for improvements or other items and lowering the risk of the bank.
As with all real estate transactions, consultation with a qualified tax expert and attorney is highly recommended for both sellers and buyers.
Interested in finding commercial real estate that can be seller financed? Use the contact form to the left and we can provide information on the current opportunities available in your area.