Seller financing is another term for owner financing, where the seller provides the buyer with a loan instead of the buyer obtaining traditional bank financing. 1st Option Title handles the closing, title insurance, and proper documentation for seller-financed transactions.
In a seller-financed transaction, the seller carries the note instead of a bank. The buyer makes payments directly to the seller. This is common when buyers can't qualify for traditional financing, or when sellers want to earn interest income on the sale.
We prepare the promissory note and deed of trust, handle escrow, issue title insurance, and ensure all documents are properly recorded. We also help the parties understand how the lien position works and what happens in case of default.
Contact 1st Option Title to discuss your transaction.