Owner Financing is when the owner is the one financing whole or part of a property through a predetermined payment plan, for a predetermined amount. It is a great way for the seller to gain a monthly income without paying realtor seller fees and the buyer to purchase without using a bank loan.

Owner financed homes can be a great option for some people. One example would be landlords that no longer want to be a landlord. Through owner financing, they would keep a monthly income (the predetermined payment plan) but would no longer be a landlord. On the other hand, the buyer would get a new investment property without using a bank loan.

Other examples include retired people that want to downsize and sell their property to get a monthly payment that would help in retirement, owners with empty homes (usually in need of a few repairs), and people who inherited properties. In these situations, the owners would be free of the property without using a realtor and gain a monthly income. The buyers would gain a nice investment property without using conventional loans.

Truly, owner financed homes are a win-win all around when you find the right agreement between seller and buyer.

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