Seller Finance Homes
Welcome to our Seller Finance page. All of the homes here are for sale and would consider seller finance. We have three pages that you will want to view. They are divided up into the following tabs: Lease to Own, Lease2own/Seller Finance, and Seller Finance Homes. Let us know if you see anything that interest you, we are happy to offer more information or get you a tour of the home. Call us at 801-893-2000.
This is how Seller Finance deals works:
- Find some homes that interest you, send us a text with the MLS numbers and we will set appointments to see them with you. When you find one you like. We make them an offer with a Real Estate Purchase contract and a Seller Finance Addendum.
-The offer is usually asking price, the market is increasing, the average increase in Utah is 4% a year. You are locking in the purchase price now and not coming in with the rest of the money for some time. So it is fair to give the market value for the home.
-The offer You give the owner 1% more than the current interest rate for offering you seller finance.
-Down payment is generally 10%-20% of the asking price of the home and goes towards the purchase price of the home; it is negotiable, however, but rarely an offer is accepted that is below 10%. Heidi Stapel (broker) negotiates this for you with the owner of the home.
-A portion of your monthly rent goes toward paying down the principal just like a bank mortgage, so at the end of the lease you have more equity.
-You work with a mortgage lender and determine how long of a lease is needed to get you on track, so that you can qualify for a loan at the end of the lease. You may use your own or you may contact our mortgage lender, who specializes in seller financing. You will need to go through their recommended programs to increase your credit score.
-Seller Finance deals are closed with a title company and all the moneys are run through an escrow company.
-During the course of the seller finance term you are the owner and reap the tax benefits of homeownership.
-At the end of the term it is time for you to get your loan, it is easy to refinance with all our your invested money and increase in purchase price. If your credit is not where it should be you have 3 options: 1) you lose your original security deposit and principal and walk away from the home; or 2) you sell the home and walk away with any equity you've earned during the course of the term. 3) you request an extension.
It's that easy! If you have any further questions please contact me at (801) 893-2000. Thanks!