“Owner Financing” Guide With Garfield Logan Law Attorney
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What is owner Financing? The owner financing - “when a property dealer finances the purchase straightaway with the person or entity seeking to buy it.” Owner financing can also be referred to as “seller financing” or “creative financing.” Garfield Logan Law has expertise in solving legal issue regarding Owner financing. Let’s go through brief information...
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Owner financing goes by many names. Various names: ● ● ● ● ●
Owner financing Owner carried financing Seller financing Owner will carry (OWC) Owner carryback
Terms of owner financing ● ● ●
Down Payment Loan Amortization Balloon Payment
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Typical Owner Financing Documents Promissory notes are not difficult to understand. They are your promise to repay the debt. A promissory note will specify: ● Amount of debt ● Term of repayment ● Interest rate ● The repayment schedule ● How payments are made (i.e whether they are monthly, quarterly, etc.), ● Payment amount and whether it is principal and interest or takes another form ● Whether a balloon payment is involved and what those specifics are
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Garfield Logan Attorney can help Owner financing options ● ● ● ●
Deed of Trust Contract for deed Lease Purchase Agreement Rent to own
There are several types of seller financing options which may be used by buyers who fail to qualify for bank loans. They may be exercised for purchasing a property of their choice and within their budget.
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Contact us: ● ● ● ● ●
Phone: 949-489-1251 Fax: 949-489-1257 Email: andrea@loganlawalc.com Facebook: https://www.facebook.com/pg/Garfield.Logan.Attorney/about/ Website: https://www.garfieldloganlaw.com/