Owner Financing

Owner Financing

Owner Financing is a situation in which the seller of a home is the main lender in the sale of the home. Rather than going through a bank or financial institution, the seller of the house can choose to accept a down payment and monthly payments. This is owner financing, these agreements should always be drawn up and overseen by a lawyer due to the precarious nature of the situation. A lawyer can ensure that all needs are met for both parties and ensure that the transaction is legal and binding.