Seller Financing

This is when the seller of the property acts like a bank and provides a loan directly to the buyer. Instead of getting a mortgage from a traditional lender, the buyer makes payments to the seller over time, usually with a set interest rate and repayment period. This can make the buying process simpler and faster. Some sellers require a down payment in order for them to take the risk of financing you. The sellers or sellers agent, if they have one, will typically tell you what that amount would be.