Landcontact/For Sale by Owner
This is a last option if financing cannot be secured by traditional means. In this program the current seller/property owner will act as the bank and extend financing to the buyer. They will usually require at least 10% down, and and bank financing secured within a specified period of time. (usually 2-3 years) A contract will need to be drawn up to help protect both the buyer and the seller. It is often difficult to find these properties on your own and can be problematic at best when the buyer and seller deal direclty with each other with out any intermediary. With the housing market in it's current situation and the abundance of bank owned properties, property owners are turning to realtors and advising them of the option of owner financing. I can assist in matching you with quality realtor to assist in showing you properties you can purchase with owner financing. I will also advise you what you will need to do to so I can secure financing for you within the contractual obligation you sign as well as matching you with a credit repair specialist that will assist you in repairing your credit.
For Sale by Owner
The reason some people choose to go the route of "For Sale by Owner" is not to try and find owner financing, but to simply avoid the 6% realtor charge. In this case I can personally assist in both securing financing for you the buyer and finding you homes that are "For Sale by Owner" free of realtor fees. This can drasticly reduce your selection however and usually (not always) means that the seller cannot afford to pay realtor fees because they owe close to what they are asking for on the home. Price negotiation tends to problematic with these transactions.