In spite of the historically low mortgage rates available in today’s market, many people have not been able to secure financing from traditional lenders and therefore they have been stuck in the rental market.
“The multifamily sector may not see much of a decrease in its vacancy rate over the next year, but the market is still considered to be tight and there’s still room for growth, according to a report from National Association of Realtors (NAR).1”
The NAR goes on to say that they “expect multifamily rentals to grow 4.1 percent in 2012 and 4.6 percent into 2013”. So what does this mean for a property seller?
A seller who is in the position to offer seller financing will probably find an abundant supply of prospective buyers who are willing and able to close fast once they find the ideal home.
A seller should get advice from a licensed, experience real estate attorney before proceeding into a seller financed transaction.
Once the deal is closed, the seller will have other responsibilities besides collecting payments from the buyers, however, there are servicing companies who could take care of those duties so this should not hinder a decision to offer owner financing. Let Investor Loan Services take care of servicing your loan.
**********
If you currently own a real estate note and are in need of immediate cash, we would like an opportunity to bid on and possibly BUY YOUR NOTE! With over 20 years experience in the private note industry, our experienced staff is available to provide you with a quick quote and help make it easy for you to get the most for your note. Visit us today at www.notebuyingusa.com or contact us at 1-877-399-1211. If you are considering offering owner financing when you sell your property, please click here to receive your free copy of “10 Critical Steps to Creating a Sellable Note”.
This information is intended to be used as a general guide. It is not intended to constitute legal advice and is not a substitute for the advice of an attorney. While every effort has been taken to present the information accurately, this document may not be infallible. No warranty is made that these materials are current, complete, accurate, or suitable for any particular purpose. You should seek advice from your attorney before proceeding with any real estate transaction.
Source(s):
Multifamily Sector Will Remain Tight Despite Slow Decline in Vacancies (11/28/2012) DSNews, http://www.dsnews.com/articles/multifamily-sector-will-remain-tight-despite-slow-decline-in-vacancies-nar-2012-11-28, Date Retrieved (11/28/2012).
