Vendor/Owner Finance
The words Vendor Finance when used in conjunction with the sale of real estate don’t often paint a good picture in the minds of many people. Vendor Finance is often associated with unreasonable terms and dodgy dealings which invariably don’t work out for the purchaser. This is not always the case and is a misconception due to a general lack of understanding on how these deals should be structured.
In actual fact Vendor/Owner Finance could be the solution for a property owner being able to sell their property in a timely manner for the price they have set. With the global credit squeeze impacting on Australia it is now harder to borrow money from a bank, forcing many renters to put on hold the dream of purchasing a property. Vendor Finance offers a way around this, as long as the property seller offers reasonable Vendor Finance terms then it is an effective alternative means to sell a property with minimal risk.