Agent

Top reasons to opt for seller financing

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The son of a longtime friend recently caught me at a Friday night high-school game and informed me he and his wife had turned down an older home in the neighborhood they always wanted, for a new home in a subdivision. They also declined the possibility of no-cost seller financing from the owner of the older home because the builder offered a slightly lower rate on the new home. "We just felt like we wouldn't have to do anything on the home for years," Patrick said. "We couldn't afford any expensive surprises." While I disagreed with him on both topics, I kept my opinions to myself because he had already made his decision and was looking forward to moving into his new home. Here's why I would have chosen differently. First and foremost, you can always repair or remodel a home, but you can never single-handedly fix a neighborhood. If you know the schools, churches and streets that are important to you, it's usually best to buy where you have done your pri...