Thursday, July 5, 2012

Owner Finance Homes - Odessa TX

A Rare Find In Odessa TX

Question from Buyer- Are there any owner financed homes in Odessa TX? Owner financed homes are a rare find in Odessa TX. Out of all homes for sale in the MLS, only about 1/2% or less offer this finance option. With this in mind your chooses are limited; so you will need to throw out the “wish list” and focus on “must have”.

I am assuming that your are focusing on homes financed by the seller becauseyou have been turned down for a mortgage loan. Today’s owners who are willing to finance are expecting larger down payments ($15,000 & more), charge a higher than market interest rate and many will only finance short term (usually only 2-3 years). This means that you will not only have to make monthly payments but you also need to get credit worthy because your loan note will become due and payable at the end of the loan period.

All this said, if you want the best deal in Odessa TX

Get into credit counseling – they can help you rebuild your credit.
Hire a good Realtor who can advise you on all your options and which is best for you.

Be patient, pay every bill on time and save as much money as possible in the mean time.

 

Make It Your Own,

Donna Edwards Realtor

 

Odessa Texas Realtor
Donna Edwards

Author Bio: Donna Edwards is a broker associate of DeRiso & Haynes Realty in Odessa Texas, a highly regarded boutique firm of Odessa Realtors – selling more homes annually than any other firm in Odessa! For more information on how we can best serve your real estate needs, give her a call at 432.934.4439 or by email at donna@OdessaMidlandHomes.com . Also, check out what fabulous clients have to say on her testimonials page!

 

 

 

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