Seller Financing Defined -

Find out if Seller Financing makes sense for you and your home.

Seller financing (also known as an owner carryback, a land contract sale, or a private party mortgage), is when the seller allows the buyer to purchase property over time. Instead of receiving a lump sum of cash at the time of sale, the seller receives principal and interest payments directly from the buyer.

If you’re selling your home or a piece of property, seller financing offers the following advantages:
	As a seller, you can transform home equity into a monthly income stream, typically earning 8-11% interest by using seller financing.
	It's easier to sell non-standard property, such as undeveloped land with seller financing (land contract sale).
	Your closing costs can be much lower.
	With seller financing, terms are set by you and the buyer, giving you both greater flexibility.
	Unlike a cash sale, seller financing often keeps you from being pushed into a higher tax bracket.