For Sale By Owner Magic

Palm Springs Desert Area Homes, Condos & Real Estate

The Magic Words Are: "Owner Will Finance"

Simultaneous Note Purchase

With an Owner Originated Simultaneous Note Purchase, Sellers can sell their property fast, for top dollar and get cash at closing, just as if the Buyer had obtained a loan in the traditional way. Any property owner can do it. While this web site emphasizes the single family home or condo application, the plan also applies to income and commercial property and land. We will show you how it works and guide you through the entire process.

It is a fact - financing sells real estate. Everything else is secondary. Seller financing will make your property special. Too often owners try to make their property special by lowering the price - this is certainly what a real estate agent wants them to do. But don't do it. Demand top price and offer owner financing to get it.

Avoid FSBO Fatigue

One of the greatest advantages to FSBOs of using a Simultaneous Note Purchase is the speed with which buyers are attracted and properties are sold. The main reason FSBOs give up on the selling process and resign themselves to spending significant money on a realtor is sheer fatigue. The process of selling a home just takes too long and after a while it just isn't any fun. Our note purchase plan makes the sale quick and easy.

In a Nutshell

We are affiliated with private and institutional investor groups that purchase owner-originated first position loans, simultaneously with the sale of the real estate. These people have virtually unlimited funds and are aggressively pursuing these investments. We offer this program to "For Sale by Owners" throughout the country. The program allows FSBOs to advertise "Owner Will Finance" and at the same time avoid any of the problems usually associated with "carry-back" paper, because the Seller is not left holding the paper.

The plan provides financing for Buyers who cannot or do not want to obtain a loan through conventional sources. With a Simultaneous Note Purchase, the Seller and the Buyer create a first position trust deed (mortgage) and note, which our investors purchase as soon as the house sale closes. This purchase is arranged in advance of the closing. This form of financing is very attractive and has the effect of increasing demand for the Seller's property by increasing the supply of Buyers.

Marketing Power

Conventional lending guidelines can make it very difficult for potential Buyers, especially self-employed individuals, to purchase a home by obtaining a traditional conforming bank loan. Only one out of two people with a down payment can obtain this kind of financing - and this can take many weeks. And those people who do have the ability to pay cash or who have been pre-qualified to purchase a property, will try to negotiate a purchase price far below the appraised property value. These few Buyers believe that they are in control of what they perceive as a "buyer's market." It is very frustrating for a Seller to work with these people.

However, when you offer "Owner Originated First Position Financing," you in effect turn the tables and essentially gain control of a "seller's market." To advertise "Owner will Finance" is very powerful. When you offer these terms, you will be amazed at how fast and how many people will be willing to give you an offer based on the full value of your property. Furthermore, this type of transaction can be completed quickly. It also eliminates many of the closing costs and the time delays associated with the requirements of conventional lenders.

Advantages for Sellers

Properties can be sold for Full Retail value with little or no price concession.
A larger pool of potential buyers is created, seeking seller-assisted financing and not wanting to deal with banks or traditional mortgage companies.
No loan points are charged for either seller or buyer.
Limited closing expenses, which can be negotiated into the sales contract with the buyer.
Fast sale and closing.
Owner-financing can be immediately converted into CASH at the time of closing.
The "discount" of the mortgage for immediate cash today can be minimized with the right structure.
Many eager buyers will appreciate an owner offering long term, fixed rate financing with no balloon payment.
Sellers can work out a deal almost on the spot, without sweating out a period of time (30, 60,90 days) for a buyer to get qualified and then funded.
Good for any type of property.
Helps marketability of the property.

Advantages for Buyers

Long term seller-assisted financing without the danger of a short fuse balloon payment coming due.
Help for buyers rejected by the bank.
No loan points or origination fees.
Relaxed qualifying criteria: no debt/income ratio requirements; source of down payment not an issue; self-employed status acceptable.
No large pre-paid escrow amounts to set up tax and insurance impounds.
Mortgage and note terms can be "custom tailored" to meet a buyer's credit profile, rather than the buyer having to "fit" into the lender's predetermined requirements.
Strong credit self-employed individuals, who typically have to come up with 20-30% or more as a cash down-payment in order to go with a "no income verification" type loan, can now obtain financing with as little as zero to 5-10% of the purchase price down.

Bonus for Palm Springs, California Area Owners

As a California Department of Real Estate licensee, while not acting as your agent in the transaction, we are able to provide a complimentary review of your documentation and advise on the State-mandated disclosures you must make. [NOTE: We will also help Palm Springs area FSBOs with FREE Comparative Market Analyses from the MLS and Title Company resources.]

Home Page

Sellers Select Realty Services

23225 Tamyram Rd

Sky Valley

CA 92241

Tel: 760-329-3650

Fax:760-329-1265

This Is Coachella Valley's Unique Real Estate Web Site

Palm Springs Desert Area Homes, Condos & Real Estate are to be found in the Coachella Valley cities of Palm Springs, Palm Desert, Cathedral City, Rancho Mirage, Indian Wells, Bermuda Dunes, La Quinta, Desert Hot Springs, Thousand Palms and Indio. These are the cities that form the Greater Palm Springs Desert Area and are home to some of the finest living and the best resort real estate in the world. If you want to sell or buy homes, condos, or real estate anywhere in the Coachella Valley, this site will provide the little known information you need and the solutions you seek.