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- There are generally no lender
fees, loan fees, or points charged for Seller Financing,
thus the buyer pays less in closing costs.
- Without underwriting or appraisal
requirements, the seller can attract buyers that
would otherwise not automatically qualify to purchase
the property.
- Provide a fixed income return.
- Can facilitate a real estate
transaction that would not otherwise take place,
and benefit both the buyer and seller.
- Seller Financing can defer the
capital gains tax for the seller, payable under
the installment sales method, as the principal is
repaid under the Seller Financed loan.
How can we help?
We can protect your investment by . . .
- Professionally managing
all the bookkeeping associated with your contract,
we’ll provide you greater protection and peace
of mind.
- Automatically deducting the monthly
payments from the buyer’s checking account
and depositing the funds into your bank account.
- Confirming that the buyer has
adequate funds to pay taxes. You could forfeit your
property to the tax authority if the borrower doesn't
pay taxes or has insufficient funds.
- Confirming that the buyer doesn’t
fall behind on insurance. Your investment could
be at risk if a tragedy occurs, and your property
insurance is in arrears.
- Submitting required data to the
IRS for interest reporting on behalf of you, the
seller, and the buyer (1098 and 1099 filings).
For further information
on the Benefits of our Service, call us at 1-800-919-3009
or email us at sellerfinance@loancare.net.
A representative will be happy to assist you.
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