Thursday, October 15, 2009

hey realtors HOW TO GET PAID ON SELLER CARRYBACKS NOQUALIFYING

morning to all as i have sold seller carryback owner carry no qualifying lease purchase , wraps and agreement for sale ,along with rent to own ,,in the phoenix, scottsdale , glendale areas of phoenix arizona for over 14 years, i have seen several ways to make sure you get paid . example typical buyer with less than perfect credit needs to have verifiable income, a good down payment and be flexible on there choices to get back into home ownership,at this stage of there credit rebuilding life . the sellers also need to be updated as to what to expect , a smaller down payment , a marginal buyer , and always take them thru a title company when closing an owner carry purchase . why would a seller take a home sale as this ??? plenty of reasons , old stale listing , over priced , no qualified buyers available, death ,divorce , medical bills, and the list goes on , so how do we GET PAID? usally there is a 5 to 20 percent down payment that i always ask for 1/2 my commision at closing and the other 1/2 in monthly payments from the seller, or as is uasally the case the balance of the commission when the buyer successfully refi s the home or sells it , down the line , yes i know , we have skin in the game , but something is better than no sale , this creative financing will get even more important , as credit worthy homeowners become less and less the norm ,try it its all good when you get a family back into a place they can call home.

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