Mon | 09:00 am – 05:00 pm | |
Tue | 09:00 am – 05:00 pm | |
Wed | 09:00 am – 05:00 pm | |
Thu | 09:00 am – 05:00 pm | |
Fri | 09:00 am – 05:00 pm | |
Sat | Closed | |
Sun | Closed |
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An owner financing deal should be facilitated through a promissory note. The promissory note outlines the terms of the arrangement, including but not limited to the interest rate, repayment schedule, and the consequences of default. The owner also keeps the property title until all the payments have been made to protect themselves against default. Same as a traditional lender/big banks would require.
You inquire about a home that we have listed for sale. We give you more details about the home. Then setup a time to view the home. If you like the home we start the paperwork right there which is called a owner finance contract. Once that's finished the down payment is made and a closing time is scheduled. YES, you get the deed in your name. You also get the honor of paying the property taxes and home insurance just like every homeowner!!! WE HOME FINANCE becomes the lender/lien holder of the promissory note.
This depends on the time it takes to view the home, schedule the closing and close. But it could take as little as a week or up to a month. It just depends on the circumstance. Usually it's faster because there's not all of that red tape like the Big Banks.
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