Depends on the situation. I suppose when you refer to a lease option that would include a contract for deed, which are similiar and can be generally refered to as seller financing. Obvious true seller financing is the seller holding the 100% lien free note on the home. Very rare and unlikely.
Depends on the situation. I suppose when you refer to a lease option that would include a contract for deed, which are similiar and can be generally refered to as seller financing. Obvious true seller financing is the seller holding the 100% lien free note on the home. Very rare and unlikely.
Joe
Usually Owner Financing involves the Owner carrying some or all of the purchase price.
Ex: Difference between Sales Price and 1st loan can be made up with the down payment and the Owner financed (carryback) Note (& D/T).
Beauty of Owner Financing is you can craft the payment schedule, % rate, duration of loan.