Creative Finace Explained
At SimpliHomes we provide flexible and creative options for buying and selling homes. Including Seller Finance and Subject To Loans.
With a seller-financed sale of a home, the buyer purchases directly from the seller and both parties negotiate the terms. The terms include:
Balloon Payment - the final amount due on a loan at the end of the loan period
In a Subject-to transaction the buyer takes over the existing mortgage of a property from the seller. The buyer becomes responsible for making the mortgage payments, but the mortgage remains in the seller's name.