Having trouble selling? Have you considered owner financing the deal? Owner financing tends to yield a higher selling price and excellent return on your money. But there are some risks involved. Here are 6 tips to help you minimize your risk.

1. Ask for a cash down payment of at least 10% on the purchase of the home.

2. Ask for additional collateral. If the buyer does not have the required down payment and you feel comfortable with the transaction, proceed as planned be require additional security in place of the down payment such as a car title.

3. Obtain a credit report. Ask your buyer to provide you a copy of their credit report. They can get one online, sometimes for free. If there are some negative things on their credit report, it may be okay just be sure that to issue has been resolved and they have recovered financially from what caused the problem.

4. Trust yourself. If something doesn’t feel right about the transaction, it likely isn’t right. You are entering into a long term relationship that shouldn’t be taken likely. You need to be 100% comfortable with the deal before you move forward.

5. Analyze the situation. Let’s say the buyer presents you with an offer. The bank has agreed to loan him 90% of the homes appraised value. The catch is the buyer only has 5% in cash. Are you going to let 95% of the homes value just walk away? Why not take a second mortgage back for the remaining 5% down to be paid over 5 years. Worst case scenario, you end up foreclosing on a home house that the buyer paid you 95% of the value for.

6. Talk to an attorney. Determine what the foreclosure period is in your state. Each state sets different periods for foreclosure through the courts. Knowing these things can help you sell in the safest way.

Offering seller financing makes it easier to sell, and to get a higher price. Just be safe about it. Have a real estate lawyer review your paperwork, and use the tips here.

Hubert Miles is the founder of Waterfront Houses USA, an online real estate listing service that offers Waterfront Homes and Waterfront Homes For Sale in the US and Canada.

categories: real estate,land,house,home,financing,finance,business,mortgage,coastal,river homes

Purchasing lake land for sale in the United States doesn’t have to be hard. In fact, lakefront land in the US is becoming a popular investment opportunity simply because the amount of lake land is scarce, and the demand for lake land continues to rise. With the high costs and eminent dangers of living on the beach, many people are giving up there beach homes in search of lakefront land. As more and more investors are developing private communities that resemble small towns than subdivisions with shops, restaurants, golf courses, and other amenities.

As developers purchase lakefront land, the begin constructing the infrastructure of the community. Streets and lighting is installed with lot markers and numbers assigned to available lake land for sale. Show models, a community center, and golf courses are among some of the amenities built in order to assist in adding value to the lake land in the community.

Generally these developments are focused towards higher income families who are looking to construct large luxury homes. Investors are also finding that they can reach middle income families and retirees by offering small villas and condos that are low maintenance. These villas and condos are great for the investor who is looking for a vacation rental, retirees looking for a low maintenance lifestyle, and small families who would like to have a weekend getaway without the hassle of having to maintain a second home.

As you start searching for lakefront land, you should have a good idea about what activities you would like to do on the water. A few lakes are not configured for boats and have limitations on swimming and other activities. This happens more often with small man-made lakes, but in extraordinary cases these limitations can also hold true for natural lakes that are under environmental protected wetlands. The sales agent can explain to you if there are limitations for dock or boathouse permits. They will also be able to inform you of how the water level changes throughout the year.

Closing Remarks

Once you begin your search for lake land in your target market, you will find that the purchase price will vary based on comparable market sales. Bargains can be found, especially in a slow market. By doing your research, you can find lakefront land in your target market at a price you are comfortable with.

Hubert Miles is the founder of Waterfront Houses USA, an internet listing service that offers Lakefront Land and Lake Land For Sale available in the US and Canada.