|
WELCOME! You've found the site for one of the top producing agents in the country. In 2004 Jeff Galloway sold over $251 million.
|
Jeff Galloway is clearly the most visionary real e
In less than 36 months, Mr. Norrie has been represented by Jeff Galloway on transactions totalling $25 million at St. George Island, Florida.
David Norrie 1st VP, C.B. Richard Ellis, Inc.
Read Quote >
|
 Compare three mortgages at one time.
Download TripleCalc now. It's free. |
Jeff Galloway are some of The Top
Selling Real Estate Experts™
Find Out More > |
|
|
 |
Please Sign Up For The Latest Listings and the Latest Real Estate News
Financing Your Home >Owner Financing
If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.
Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.
Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.
|
| Q |
To what process do the terms closing, escrow, settlement and passing papers refer?
|
| A |
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale. |
 See More Real Estate Trivia > |
|
|
|
|
- NUMBER1EXPERTS™ 
