5 Things You Might Not Know About Creative Finance In Real Estate
Creative financing can be used to purchase real estate without a traditional mortgage. Some options include taking the property subject to the existing mortgage, on owner financing, lease-to-own agreements, and seller financing.
Creative finance can be used to buy real estate with $0 out of pocket, or to sell real estate for the highest dollar.
Some creative financing strategies, such as lease-to-own agreements, are beneficial for buyers who have difficulty qualifying for a traditional mortgage due to credit issues or a lack of down payment funds.
Creative financing is intentionally used to sell real estate, such as through a wrap-around mortgage or a land contract.
It's not only helpful but important to work with an experienced real estate professional such as an attorney or specialized consultant when considering creative financing options for real estate.
How many did you already know?