As interest rates continue to rise, some sellers are considering private financing. In other words, they are setting the lending terms with buyers to help them get into the home they are buying. A move like this ties up the cash for the seller but in many cases, it helps them get moved on to another home while the new buyer pays a premium to own the home.
If the new buyer ceases to make payments according to the agreement arranged a the time of purchase then the seller forecloses on the property and sells it again.
Participants in a negotiation like this will want the right professional team envolved so that title is transferred correctly and the negotiations are appropriate.
