Benefits of Vendor Finance
Vendor finance arrangements can be structured with suitable terms for both
parties; that is, the home buyer and the home seller. There are rarely any ugly
surprises like the finance falling through in a vendor finance arrangement -
mainly because the vendor is the financier. Most buyers are so delighted just
for the chance to own their own place that they are more than willing to do
what it takes to make the arrangement meet the seller's needs.
Through a vendor finance agreement, sellers can also arrange a settlement
period that suits them - no banks or agents hovering over everything, and no
dodgy tenants to deal with either. The buyer is usually extra-vigilant about
sticking to their repayment obligations - for many of them this is their only
chance to own their own place and they are determined to do it right. After
all, they want to buy a house.
With the availability of vendor finance programs, you can get the full amount
you need financed in many instances. If you do need a down payment for it,
the cost won't be very much. As a result you don't need to find ways to come
up with cash. For most people this would mean incurring additional debt to
cover. It can also reduce the amount of time it takes from planning your
business to actually getting it in motion.
For more information visit : http://negative2positive.com.au