Why choose Owner Financing in Austin? Austin Owner Financed Homes ...

In owner financing, sellers provide short- or long-term mortgages to buyers, augmenting traditional lender financing or taking its place.

These sellers may be more apt to get an offer and close a deal quicker. The loan may yield interest and an income stream topping mortgage payments or investment interest rates, and there can be tax perks.

Offering financing carries risk. It takes good judgment to avoid the missteps big lenders made in the subprime debacle. Sellers should consult experts to help set up a loan and maybe a trust, handle documentation, keep records and file taxes. If you?re in the Austin area, i would highly suggest Forte Properties. They are the #1 Owner Finance specialists in Austin and surrounding areas.

Who needs seller financing? The list includes foreign buyers who may have trouble getting U.S. bank mortgages, and business owners or others who look cash-poor to a bank but have assets and income aplenty. Seller financing for luxury properties is especially in demand.

Sellers who finance can defer capital gains taxes for the period of the note and only pay income tax on the interest and principal income they get each year. Depending on how long a seller has held a home and the size of the down payment, he may not need to pay capital gains tax on that part of the transaction.
Rates And Costs

It can run a few hundred dollars for an attorney to review loan and sale papers. Usually the buyer pays.

Interest rates, amortization and note periods on these private loans are set by what the market will bear. Some undercut bank rates. Others get a premium. Usury laws make loans at unreasonable interest rates uncollectible, possibly illegal.
For more information on Owner Financing and how it can benefit both the buyer and the seller in today?s market, go to http://www.AustinOwnerFInancedHomes.com.

Forte Properties is Austin?s #1 Owner Finance company.

By: Owner Finance Austin, TX
Posted:

Source: http://www.beanswax.com/2011/07/why-choose-owner-financing-in-austin-austin-owner-financed-homes/

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