Greater Daytona Beach Area Luxury Homes With Seller Financing Available

I get at least 2 to 3 calls every day from buyers looking to purchase a home in the Daytona Beach, Ormond Beach and Port Orange areas where the seller will carry the note on the home for a short time. This is ideal for the buyer that has cash on hand and has problems getting a traditional mortgage with a bank.  The sellers own these homes outright and act as the bank with the buyer’s cash acting as the credit and collateral.

Below are the latest homes on the market in the Greater Daytona Beach area with the option of seller financing being available.  These terms are negotiable however sellers like even in a traditional sale have a bottom line of where they want to be financially.  I can help you navigate these negotiations and help you get a great deal not only on the home but also on the financial terms.  We can negotiate in most cases the amount of money required down, Interest rate and the length of the note.  Just as a working example a typical Seller financed property will have terms like this:  20% down, 7% interest with a balloon due on the remaining balance in 5 years.   Many of my clients just need 3 to 5 years to set their finances up to refinance the loan into a conventional mortgage.

LUXURY HOMES FOR SALE WITH SELLER FINANCING AS AN OPTION

 
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15 Great Homes With Seller Financing Available

Are you looking to buy a new home, you have great income but you don’t qualify for a traditional mortgage? You have a great job and a nice down payment but the banks don’t want to work with you? Let me tell you a little bit about Owner or Seller Financing!

With seller financing the owner of the home can sell it to you and act as the bank. Banks have strict guidelines and rules they MUST follow in order to provide mortgages to their customers. The home owner can sell their home to whomever they want and they can act as the bank providing the loan to you. Your down payment acts as the security. So your probably going to be asked by the seller for more down then a typical FHA loan is going to require. Most sellers ask for at least 20% down.

 

15 Seller Financed Homes Currently Available


The seller is probably not going to want to hold the loan for you for 30 years like a traditional bank, most seller financing deals I have helped my buyers get have had a 3 to 7 year balloon payment due. This means that the seller has a set amount of time to either pay off the loan or refinance it into a traditional loan. I like to have my clients talk to a lender to find out what its going to take to get a traditional loan so we know how long they need to do a refinance down the road.

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