Buyers Wanted, Owner finance, Edgewood New Mexico Homes for Sale, The Kniffin Team Real Estate Professionals
I noticed the past few months homes sales have increased although, buyers seem to be more creative in the purchase of a new home.
REC , Real Estate Contract, or Owner finance are two words you see on listings and newspaper ads, this is where a buyer has a down payment
usually 8-15% of the agreed sales price. Then the terms are agreed by the two parties, two deeds are created by the Escrow company and payments are made to the
escrow company (not the seller directly) and proceeds are given to seller after a outstanding debt is paid. (example Mortgage Payment)
During this process as a buyer, your saying who pays this guy or gal (Realtor) who is showing me property. Most all cases the seller pays these costs from the down payment from the buyer.
So, if your interested in Purchasing a home and you have a good job and money in the bank, but not so great credit, Yes you can still purchase a home safely.
Just call your local realtor and ask, What homes in the area are offering Owner Finance?
Call me if you have any questions regarding REC’S/ Owner Finance.
The Kniffin Team Real Estate Professionals,
Dan Kniffin Owner/Broker
Edgewood , NM Tele: 505 440-6878