I have been learning alot in Real Estate. One of the biggest things I have learned is how to change with the Market. With the Lending Industry raising the bar on credit scores, it is harder to get a loan on a home. I think as Real Estate agents we need to help our clients with the possibilty of a Rent to own,or land contract. Even the offer them free credit repair to help them get a better rate when they can qualify. Then it can be said that Real Estate agents came to the rescue to help get the Industy back on track.
Todd Crilley
NW Indiana
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I specialize in finding you the home of your Dreams! I also specialize in having a great time doing it !
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We used to call that a contract for deed and back when the interest rates were really high we would write a deal where the seller kept paying the current loan, but have a deed signed and held in escrow for the immediate transfer upon pay off. This the buyer was considered to have equity ownership and it got a little more complicated when the contract buyer wanted to sell which involved a third party, I hope it hasn't come to that but knowing how it works is always a plus when the deals get tough. Good Luck.