Creative Financing Techniques
Hello,
My name is Sue Harris. I am a Realtor in Palm Coast, Florida. I am in desperate need of some creative financing techniques. It seems that everyone that wants to buy a home has no money for d/p or bad credit or both. I need some helpful tips on creative financing. I don't want to turn my back on these people like all of the other realtors do. I will work hard to get them into the house that they need, even if it requires me to donate a part of my commission. Help!!!
harrissue73@cs.com">harrissue73@cs.com
386-679-0117 or toll-free 888-675-3000 
Sue,
First of all it's nice to meet you. I am also a real Estate agent in Orlando, FL.
Ok, here goes and idea. These people have no money down. You can see if the Seller is interested in financing the purchase for the buyers. Tell him to keep the current mortgate in his name and to aske for a higher percentace rate than what he is currently paying. So he can make a cash flow on the current mortgate. Then give him a promissary note from the sellers for the difference and the the stated interest rate.
I don't know exactally how you do this so you need to contact an attorney and get the correct information on how and if this can be done.
As for your commission if you don't mind waiting, take it off the top of the payment that the buyer makes to the seller over the course of a year or two.
I don't know if this will work, it's just an Idea I have.
Please reply on what you think about this.
Good luck
Dan at DanielSchultzagent@hotmail.com
Sue:
Welcome!
Are you aware of the various groups whose mission it is to provide 'charitable' downpayment 'grants'?
This might give you one more 'tool' in your aresenal to help your clients....
MarkWilliams@PositiveDestiny.net
Best!
Mark