Owner Financing Can Be A Good Way To Sell Your Honolulu Property
August 31st, 2009 categories: For Sellers
For the right seller of a Honolulu home or condo, owner financing can offer an excellent way to earn a good return the equity in your home and get your it sold. The Wall Street Journal had a recent article that talked about whether or not a seller should consider financing a person who file bankruptcy in the last few years. The author spoke with two attorneys and I was surprised at their support for considering making the loan.
“Still, you can’t take the buyer’s word that the bankruptcy occurred just because he took a temporary financial hit. “You have to be skeptical,” says Mr. Leibowitz. To get a full picture, he says, you should first ask the buyer to fill out a Uniform Residential Loan Application, which will detail his income, expenses and assets. Then, find out what type of bankruptcy was filed, and what the terms and requirements are. You can find this for a fee through PACER (Public Access to Court Electronic Records), a service of the United States Judiciary. (You also may want to check out his case at the United States Bankruptcy Court for Northern Illinois.) Finally, with the buyer’s written permission, you should pull his current credit reports; you can get this information, as well as his eviction and criminal history, for a fee on the American Apartment Owners Association Web site.” CLICK TO READ THE WALL STREET JOURNAL ARTICLE.
As a Honolulu Realtor, it my job to consider the ramifications of any offer and, if a seller has enough equity, an owner willing to carry a mortgage can mean good things for everyone involved.
SEARCH FOR YOUR HONOLULU HOME If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
Seller Financing Can Help Sell Honolulu Homes!
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This is the good way to sell the houses.