Here’s How We Buy Houses In San Antonio Home Buyers
In an ordinary home-selling transaction, the person who wants to buy the house (and does not have all the money for it) goes to a lender (for example, a bank). They then make a down payment and continue to pay monthly mortgage payments on a regular basis until the borrowed amount is fully paid.
When a homeowner decides to sell their home by going the traditional way (with the help of an agent), the buyers are usually regular buyers who have get a mortgage to purchase their home. Real estate agents usually prefer to work with these kinds of “pre-qualified” buyers who can get a mortgage through a bank.
However, this method of selling also has its problems. For example, sometimes you need to wait several months to see if a buyer can get financing, and other times the financing falls through so you’re forced to keep showing your house until you find another buyer. However, there is another option for selling your house that you might not know about and it involves owner financing.
In this case, everything stays mostly the same except for one little thing: the person who sells the house acts as the bank. San Antonio House Buyers webuyhousessanantoniotx.com who buys the house makes a down payment to the person who sells it and then continues to make regular payments (like how mortgage payments are made) to the seller until the house is fully paid off. After that, the ownership of the house gets transferred to the buyer.