In some situations, a seller is planning to use the down payment funds to pay debts he or she may have or payments that may be overdue.
If the buyer or real estate investor can arrange to assume those debts and then pay for them over a period of time, you can avoid having to come up with the down payment funds all at once.
One real estate investor of a small home was able to take care of the seller's overdue mortgage payments and some utility bills. Thereby covering some consumer debt obligations through installment payments.
The result was the relaxation of the upfront cash requirements for the transaction and ended in a win-win relationship for both the buyer and the seller.
Sunday, January 30, 2011
Subscribe to:
Posts (Atom)
