CREATIVE FINANCING
There are times when conventional financing is not possible or not as desirable for a buyer and also a seller. Here are some reasons for both a Buyer or Seller to consider “Creative Financing” to close a transaction.
BUYER REASONS FOR CREATING FINANCING
- EXPECTING MONEY AFTER PURCHASE –
- NOT ENOUGH DOWN PAYMENT –
- DONT WANT LOAN TO AFFECT CREDIT –
- BUYER HAS POOR CREDIT –
- LEGAL REASONS –
- PROPERTY REASONS – The property may not qualify for conventional financing –
- TAX REASONS = The Seller wants to carry the financing for tax purposes