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.

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Lucretia Pinnock
Pinnock Real Estate & Relocation Services, Inc.
115 E. Pennsylvania Ave.
Southern Pines, NC 28387
910-692-6767
Fax: 910-692-4141
lucretiapinnock@NUMBER1EXPERT.com

Whatever your questions, I'll help find the answer. I have been a full time real estate professional in Moore County, North Carolina since 1985. And as one of America's NUMBER1EXPERTST and an avid reader of professional journals, I understand national and local trends in the real estate market. Staying informed is critically important to my clients in the turbulent Real Estate Market that exists. Because of this level of professionalism, I was honored by Realty World-America and Keller Williams Realty as a Top Agent. I was named as Realtor of the Year for our Association of Realtors in 2003. I am well equipped to guide you through all your real estate needs in the Pinehurst area and take that opportunity and responsibility very seriously. I guide a Team of Real Estate Professionals to provide the highest level of service and look forward to providing that level of service to you and your friends! Call or email me today!

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