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Teresa King

Broker, RE/MAX White Sands, Inc.

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Possible Owner Financed Condos and Homes

Owner financing for qualified buyers is dependent on each seller's terms and requirements.  The purchase transaction will have a traditional closing with approximately 7% to 9% of the purchase price paid by the seller at closing for his/her upfront expenses. These seller costs include the commission paid to the real estate companies, and seller closing costs for the title and such. Typically, the down payment below is needed to cover those upfront costs before the seller sees anything toward the sale. The most common terms set by the majority of sellers are as follows:

20% or higher down payment    •   3-5 year balloon   •   5% to 6% interest rate   •   30 year amortization


Information is provided in part by either the Birmingham Area Multiple Listing Service; the IDX Program of the Multiple Listing Sevice, Inc. of the Montgomery Area Association of RealtorsŪ Inc.; the North Alabama Real Estate Information System (NARIS); the Broker Reciprocity Program of the West Alabama Multiple Listing Service, Inc; the Gulf Coast MLS; the MLS Inc. of the Phenix City Board of RealtorsŪ; the IDX program of the Baldwin County Association of RealtorsŪ MLS, the Lake Martin Area Association of RealtorsŪ (LMAAR) MLS, the Lee County Association of REALTORSŪ or the Columbus (GA) Board of Realtors. Copyright Birmingham Area Multiple Listing Service, West Alabama Multiple Listing Service, the MLS Inc. of the Montgomery Area Association of REALTORSŪ Inc., NARIS Regional MLS, the Gulf Coast MLS, the MLS Inc. of the Phenix City Board of RealtorsŪ, BCAR MLS, LMAAR MLS, the Lee County Association of REALTORSŪ and the Columbus (GA) Board of Realtors 2016. All information provided is deemed reliable but is not guaranteed and should be independently verified. Neither data providers nor RE/MAX Alabama are responsibile for the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non-commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring.