How To Owner Finance A Home in DFW, Texas With No Credit
I don’t like seeing people flushing their money down the toilet each month paying rent. That’s why I show people how to own their own home by Owner Finance in Dallas, Texas with absolutely no credit check. If you are tired of renting and you are ready to become a homeowner then you are in the right place.
What Is Owner (seller) Financing?
Here are the basics of Dallas Owner Finance Property:
Owner financing in Dallas, Texas, occurs when the owner of a home finances all or a portion the sale of his or her own property. The definition of this from ads you’ve seen is “Owner Finance”, “Owner Will Carry” or “Seller Financing”. This means that the current owner of the property will, in effect, act as a bank and loan the purchaser part or all of the money needed to purchase the owner’s property. Most hard working people will be able to get into our Dallas owner financed homes as long as they have a stable job, the required down payment, closing costs and are comfortable with the monthly payment.
As sellers of Dallas Seller Financed Properties, we like the idea that we can receive a monthly income from a property even after we have sold it – and no longer have to worry about repairing leaky roofs or replacing broken water heaters or fixing toilets….and that’s just a few of the reasons we are willing to seller finance in Dallas, Texas!
To protect ourselves with our Dallas owner financed property, we require that our buyers make monthly payments into an account held by our mortgage servicing company. We also require the borrower to execute a “deed in lieu” or ” Quit Claim Deed” with instructions that if a payment is late by a certain number of days then the escrow officer will automatically file the “Deed In Lieu” or “Quit Claim Deed”, restoring the property to the former owner instantly. If this were to happen the buyer would not only lose title to the property but would also lose any and all payments already made on the property. This is a powerful incentive for the buyer to make all payments in a timely manner on their Dallas area seller finance notes. (And also reason why investors/buyers are willing to provide housing.)
Another reason, perhaps, why some homeowners agree to carry an owner financed note on their Dallas properties is to increase the number of potential buyers for their property. This means that a larger number of potential buyers are in the area since a perfect credit score is no longer required.
While the Dallas owner finance seller of a property may charge the same interest rate or more than a bank or other financial institution would charge, it is sometimes possible for a buyer to actually end up paying a slightly lower interest rate if the seller finances the sale since more aspects of the sale are open to negotiation than may be possible when dealing with a typical bank or mortgage company.
About XPQT Investments, LLC, Bruce Avellanet, Managing Principal; How To Owner Finance A Home in DFW, Texas With No Credit; We are active real estate investors always looking for single family and multi-family properties to acquire in the Dallas Ft.Worth Texas Metroplex. We also develop commercial multifamily units in the DFW Metroplex area (and most metro areas of Texas) giving our investors an aggressive preferred return that is 100% guaranteed by FHA. These are market rate, “A” class developments. Call us for details if you are an interested investor: (214) 914-1794 or email: Bruce@XPQTinvestments.com
If you are a “burnt out” landlord or just tired of “tenants, toilets, and trouble”…
or know of someone who owns single-family or multi family properties in any of these areas who may want to sell, please let them know that we would like to speak with them about the possibility of easing their pain by buying their property. How To Owner Finance A Home in DFW, Texas With No Credit
We pay finders fees for qualified referrals or if you are an interested investor: Call us (214) 914-1794 or email: Bruce@XPQTinvestments.com Please check our our websites below:
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http://www.myhousedeals.com/xpqt (free access to motivated sellers of single family homes, we really do close several single family deals from here every month…)
http://atxhomebuyerforyou.wordpress.com/2009/04/06/dallas-real-estate-owner-financing-your-dallas-home/ (Our friends at P.S.E. Real Estate are experts in Dallas Owner Finance Real Estate)