I'm looking into seller financing because getting a traditional mortgage feels nearly impossible right now. For those who don't know, seller financing has the seller acting as the lender, which allows for more room to negotiate terms like down payments, interest rates, and timelines. For buyers that don't fit the usual bank criteria, it seems like a more practical way to buy a home.
I've come across platforms like Promissa, ZimpleMoney, and noticed discussions on BiggerPockets where users arrange deals. I've also seen Zillow list properties with seller financing options. Recently, I found Ziggi, which seems to effectively connect buyers with homes that qualify for seller financing and pairs you with the sellers, instead of just providing tools after the fact.
Has anyone used these platforms or others? I'd love to hear if they actually make things easier or if it still becomes a hassle to get everything organized.
4 Answers
Been there, done that! I explored several platforms and honestly, it’s not as complicated as you might think. Ziggi is pretty user-friendly and does a nice job connecting you with the right sellers. Just remember to do your due diligence before jumping in!
Honestly, seller financing isn’t usually a buyer's choice. Most homeowners aren’t willing to take that risk unless the property is in bad shape or if interest rates skyrocket. Typically, you won’t find this option being offered by regular sellers.
I’m thinking about going the seller financing route too, as traditional mortgages are super frustrating. I don’t have any experience with the platforms you mentioned yet, but I’m definitely going to check them out!
We just sold a house with owner financing and used a local lawyer to draft the paperwork for about $600. Having a lawyer who knows the terms makes things smoother, especially if there's a need for foreclosure later.
Thanks for the tip! I’ll make sure to research properly before proceeding.