What exactly does it mean when a house is for sale by owner and it says seller will finance?

Does it mean they are the ones that approve your loan? Are they usally stricter or more leniant than a financial institution?

Related Topics:

  1. Quick Sale- probably need to finance a loss on a house? We are getting ready to sell our house. Because of the declining market and the length of time that we have been in the house- 1 year- we are expecting to lose money on it. When this happens, how do we handle it? Do we just ask the mortgage company...
  2. I’m interested in a house for sale on land contract, the price is $38,000. How much of a down payment ? How does the process work? Also, Does anyone know of a financial institution that still offers piggy-back loans?...
  3. I want to buy a house “private sale from owner” what do I need to know? I want to buy a house. Its being sold directly from the owner. I have a pre-approval for the mortgage loan, now what do I do?? When asking questions, what do I need to know and what should I do first? I am in Canada. I would like any info...
  4. buying a house “for sale by owner”. how does it work? I found a really nice, small house for sale by owner(a minister actually). i’m a first-time buyer so how does this work? walk me through the steps if you can! how much cash will we actually have to pay up front?(not including the mortgage loan or down payment) all the...
  5. Looking for answers on a house short sale? Put an offer to the seller and they accepted it.The realtor wants me to pay the ernst money and get a home inspection before the bank even approves the offer.I would be out the money from the inspection if the bank doesnt approve the offer.Does this sound like the way...
  6. Buying a house that is on short sale? My family was house hunting and we saw this house that we would like to buy becuase it was such a deal. But the thing is, it’s a home that is a short sale. From my understanding the bank hasn’t even approve the selling price. Is buying a short sale...
  7. I was interesting in buying a house that is for sale buy owner.? I have my own realtor but the seller , don’t want me to use my realtor so he want have to buy him comission. He said he would let me use my realtor but he would up the price of the house. So he could pay him commission and still...
  8. When a house is worth 200K, and the owner owes 75K, can the owner sale part of his ownership to someone else? If the owners still owes money on a house, can he still sale part ownership, if there is enough equity in the house? Or, does the owner have to payoff the house first, before he can sell part ownership to someone?...
  9. what documents, if any, required from a seller of a house in order to close a sale? Im selling my house that i inherited about 2 years ago. I know the title was transferred over to my name, but i don’t remember receiving a deed for the house. Should i have received one? Where and how can I get one if I should’ve gotten one? Is it...
  10. Whose job is it to inform seller that she needs to bring money to the table to close on a house sale? this is a question regarding the purchase of a condo. the seller is selling for less than she paid. We are supposed to close tomorrow, but she didn’t realize she had to bring $15,000.00 to the table to close and doesn’t have the money. I just found this out and...