https://www.nolo.com/legal-encyclopedia/seller-financing-home-sales-30164.html
HTH!
:-)
Cheers,
Scott.
Seller financing can be a useful tool in a tight credit market. It allows sellers to move a home faster and get a sizable return on the investment. And buyers may benefit from less stringent qualifying and down payment requirements, more flexible rates, and better loan terms on a home that otherwise might be out of reach.
Sellers willing to take on the role of financier represent only a small fraction of all sellers -- typically less than 10%. That's because the deal is not without legal, financial, and logistical hurdles. But by taking the right precautions and getting professional help, sellers can reduce the inherent risks.
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HTH!
:-)
Cheers,
Scott.