If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.

Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.

Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.

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Brenda Fontaine
Fontaine Family - The Real Estate Leader
336 Center Street
Auburn, ME. 04210
Office: 207-784-3800
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Brenda Fontaine became a Real Estate Agent in 1983. Brenda has helped over 4000 families buy and sell their home. Brenda ranked NUMBER 1 for a nationwide franchise for "Top All Around Realtor" for 6 years. Brenda's success is due in part, to her caring attitude, her consistent follow through and also her strong work ethic. Brenda is supported by an experienced and dedicated team of licensed professionals that consist of a client care manager, Melissa Field, marketing manager, Crystal Bergeron, showing/feedback coordinator, Angie Larochelle, field Coordinator, Claude Fontaine, marketing assistant, Marilyn Larochelle, listing manager, Marie Beaulieu and eight Listing & Buyer agents, Bill Bergeron, Clayton Larochelle, Beth Favreau, Deb Morin, Nick Trider, Harriet Cummings, Matt Lavallee & Pat Long-Cressey. The Family team of fifteen licensed professionals work together to help families buy and sell their property. They want to be your "Realtors for life" and they will give you superior service to earn that honor. The Wall Street Journal recently posted America's Top Performing Real Estate Professionals on their website. (wsj.com) Amongst the top 400 is local real estate professional Brenda Fontaine. Fontaine who ranked 44th on America's Top Performer list, is broker owner of Fontaine Family - The Real Estate Leader located at 336 Center St. Auburn, Maine.

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