Realtors

Think about it: What would it earn to your bottom line if you were able to increase your current sales level by one additional property every month? Even if you just closed one more sale a quarter, you wouldn't complain. Well, we're not promoting a gimmick here, we're not proposing anything unethical, and we feel so strongly about this that we're not even going to charge you anything. Our attitude is that your growth and success will help us grow and succeed. We mean that! You win, your clients win, and we win. You know the scenario; you've been there. The two parties have come to an agreement, things are looking good, until... the mortgage companies start to grumble. You propose partial or even full seller financing, but the seller needs money to move into their new home. Oh, boy! You watch the whole thing collapse. Sound familiar? It sure isn't a fun situation to be in. But there is a solution: The buyer buys the property. The seller takes back a note from the buyer. The seller then sells the note for cash, (or sells a portion of the note, enough to generate the needed cash) either at the same settlement table, or within one to two weeks after closing. The buyer gets the house, the seller gets the cash, and you... have just done the impossible.

You are able to get your full commission for transactions that would've otherwise died. You can close more transactions, and get them closed faster. You can help buyers that might otherwise have not been able to buy their home. You can help more people, and make more money in the process! You can do it!

We're not saying that this is easy. (Things worth doing are rarely easy.) You need to educate your sellers on how seller financing can help them sell their homes faster. You need to show your buyers that it can help them buy the home they want. It's critical to use good judgement. You see enough different transactions that you probably have a pretty good "feel" for when the buyer's parameters are close, and when no one in their right mind should take a given risk. Seller financing will not work miracles. You've been in business long enough to know that you can't get something for nothing, and so you understand that the size of the discount on the note reflects the level of risk inherent in the given situation.

We are not mortgage originators, and so, by law, we are not allowed to structure a specific loan. But we can suggest certain things for you and you client to keep in mind in order to increase the value of the note. While we're on the subject of structuring, or creating, promissory notes, we need to stress one thing. If you are new to the idea of seller financing, we strongly recommend that you enlist the services of a real estate attorney. Yes, you can buy the necessary forms at your local office supply store for a few bucks. But it's much more important that you have your client's interests promoted and protected, and that requires a good lawyer.