Derek Siewert - The Latest Trend of Owner Financing

Owner financing is the newest trend in property sales. It is easy to understand how it takes place. There is no third party involvement in this arrangement of finance.

Derek Siewert decides everything and comes to an agreement with the buyer. This way, decisions are taken quicker and the payment is made easier. The only downside is the risk factor involved with the seller.

One of the biggest advantages of this type of finance on property transactions is the ability of a person having a poor credit score to purchase a house. With this method a seller could agree to sell his property to one who has a bad credit record. Since the seller is doing the evaluation in private he could consider the factors that led to the poor credit score and come to a conclusion.

When a seller wants to get rid of the property quickly for a good price, making his own finance available for the buyer is the best way to get good results. Derek Siewert says a transaction that could take months with conventional methods could be closed in a few days as the seller will personally do the evaluation.

During the five years the buyer may find it difficult as he has to pay a higher installment and interest payment every month. But he has the consolation that he owns the house in just five years. In case he wants a bulk sum of money after the completion of the final installment he could easily get a refinance deal on the conventional way.