How Does Owner Financing Work in Austin Texas – Trolly Team

512-215-4987 How Does Owner Financing Work? Tune into the Trolly Team cartoon and learn about some of the dangers and pitfalls to watch out for. Or give us a call at 512-215-4987 and we’ll fill you in personally.

Hello and welcome to trolley team tv you may have heard the term owner finance but you’re not sure if it is a safe way to buy a home in austin you may have heard of buyers losing their hard-earned money and facing foreclosure because their seller didn’t use their payments to pay the mortgage it can happen if you mistakenly get entangled with an unscrupulous person

The safest way to get into an austin owner financed home is to work with the reputable real estate team that will make sure that your purchase is set up correctly of course we would love for you to choose trolley team we would love for you to choose trolley team we are sponsored by realty of austin associates and are the most experienced seller finance team in the

Austin area in addition to being experts in the owner financing field we are also experts in the real estate industry most realtors on they have experience riding up paperwork our team has bought and sold hundreds of our own properties have properties and owner financed our own properties we know what it feels like to be on either side of the transaction and we

Know what to look for when structuring a deal that will keep you safe the most important part of keeping you safe in an austin owner finance purchase is to set up an account with a loan servicing organization there are several companies that are local to the city of austin and many of our clients like being able to meet directly with their loan servicing company

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The process for keeping owner financed homes safe is setting up a loan servicing company at closing then as the buyer you send your payment to the company either by check or by auto debit and then the loan servicing company pays the underlying mortgage this gives both buyer and seller the confidence that the money is going to paying the monthly mortgage the loan

Servicing company would provide austin owner financed homes with the following services makes the payment to the underlying sailor mortgage keep track of the escrow fund for property taxes and insurance at the end of the union will receive a statement that shows how much the buyer has paid an interest for the year both buyer and seller can verify that the mortgage

Has been paid and that the underlying mortgage has been paid correctly when you purchase an austin home with any kind of seller financing using a loan servicing organization is absolute must for the record while we say it is a must in reality you can purchase a home with seller financing and not use the loan servicing company however we have had several clients

That came to us to buy their second seller financed home after the first one went into foreclosure the house went into foreclosure because the buyer was sending the money directly to the seller and the seller was choosing to keep the money and not pay the mortgage the buy was completely unaware until they got a notice from the bank when you utilize a third-party

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Company to service the loan and you are making the payment this is a situation that can be avoided if you want more information on buying owner financed homes in austin call the trolley team at 5 12 to 15 for nine eight seven what was that number again 5 12 to 15 for nine eight seven or you can visit us on the web at

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How Does Owner Financing Work in Austin Texas – Trolly Team By AustinOwnerFinance