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The sale price is too high to obtain traditional financing. The parties want to close quickly and/or save on closing costs. The parties prefer more flexible terms than what traditional lenders offer.
In the application of creative financing, a land trust can be used to take control of a property while keeping the name of the owner private. While this does not prevent the lending institution from invoking the due on sale clause, it will make it harder for the lending institution to detect that the property has been sold using creative financing.
Get breaking Finance news and the latest business articles from AOL. From stock market news to jobs and real estate, it can all be found here. ... There may not be a lot of homes for sale these ...
The borrower's equitable title normally terminates automatically by operation of law (under applicable statutes or case law) at the trustee's sale. The trustee then issues a deed conveying the legal and equitable title to the property in fee simple to the highest bidder. In turn, the successful bidder records the deed and becomes the owner of ...
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
On June 24, the house was put up for sale with an asking price of $350,000. With a brick facade, large windows and sprawling 3.75 acre grassy lot, the agent boasted that it had “lots of ...
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