Seller Financing In Washington State

A few years ago, I wrote an article regarding seller financing here. The real estate market in Western Washington has cooled down since then, but nonetheless, opportunities continue to abound for buyers seeking to purchase a home. Unfortunately, sometimes purchasing a home with conventional lending involves too many requirements that certain prospective purchasers cannot meet. Sometimes, seller financing provides a better option. Seller financing occurs where the seller of the property loans funds to the buyer to purchase the property.

First-time buyers, low-income buyers, and buyers with bad credit may have opportunities with seller financing that they cannot find elsewhere. Typically, though not always, the buyers have a previously existing relationship with the property seller – they may be family, friends, or long-term tenants. Seller financing can avoid the strict lending and credit requirements from financial institutions and offers flexibility for buyers and sellers.