Financing Facts
Call Kyle or Stephanie Wood for information on Seller Financing at 480-297-8079
Many of our bank owned and short sale units have been sold. At this time, I recommend to my clients that you consider all options, bank owned, short sale and traditional sale. There is no economic advantage of purchasing a bank own property over a traditional property. In some cases bank owned may even delay your close date. Consider some of these facts:
Benefit of a Seller Carry Back
- No credit check in some cases
- No Points or origination fees
- Reasonable interest rates - between 5 - 6%
- Flexible terms - interest only, P&I, Balloon Payment
- 20-30% down with ability to make additional payments to accelerate payoff
Benefit of a Traditional Sale
- Will get you into a unit with the least amount of wait time.
- Will come completely furnished, move in ready
- Well maintained
- Negotiate directly with the owner/seller
Bank Owned/Short Sale
- Longer response time - offer must go through committee
- Unfurnished
- Little to no maintenance has been done - has not been occupied in some time
- Additional costs to furnish and repair.
- Priced above market in some cases.
 
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