Sell Your Home in Chicago at Chicago Home Estates
If you are selling your home, it is a good idea to make sure the potential buyer is pre-qualified or pre-approved for a loan before starting to talk prices. Not all buyers will take out a loan but there is a good chance that they will. Homeowners can offer their buyers something called seller, or owner, financing. This is a land contract that includes the seller taking out a second mortgage, the seller then credits the buyer for the home and the buyer agrees on a deed trust with the seller accompanied with a promissory note. Using this method the seller can hold onto the deed until the buyer repays him. Make sure to discuss with your agent or mortgage lender what loans are available. Don't settle for less, find a loan that is best for you.