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Real Estate Tips
Financing Your Home >Owner Financing

If you are selling a house in which you have a lot of equity, and you don't need that equity to buy a new home, an owner-financing agreement may benefit you and your buyers.

Seller financing arrangements usually involve the buyers securing the largest portion of their purchase money from a mortgage company and getting a smaller second loan from the sellers. For example, they may finance 75% from a lender, put in 15% from savings, and ask the sellers to finance the remaining amount. The terms and interest rates on seller carry-backs are negotiated on a case-by-case basis.

Sellers may be able to negotiate a note that provides a better return on their money than 1-to-5 year CD's or treasury notes. They should ensure that the note protects them to the fullest. Use common sense when considering such a loan, and verify the buyers' income, credit history, and job stability before making your final decision.

See All Tips In The "Financing Your Home" Category >
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Real Estate Trivia
Q 
From 1974 to 1996, what was the world's tallest habitable building?

A 
The Sears Towers, headquarters for Sears, Roebuck & Co., with 110 stories and 1,454 feet high.
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The Distinguished Team, REALTOR®, real estate agent and broker for Bronxville, Yonkers and Scarsdale, New York home listings, property and land for sale - NUMBER1EXPERT(tm)

RE/MAX Distinguished Properties
RE/MAX Distinguished Homes

52 Pondfield Road West
Bronxville, NY 10708
914-346-8255
EricStein@NUMBER1EXPERT.com


Certified Mentor
As a Certified Mentor, REALTORS gain the knowledge and tools to facilitate this turn-key, activity-based training that will teach agents how to work by referral. The 100 Days to Greatness® program gives agents a defined plan for developing and generating referred leads. Many students in this program start getting results almost immediately when the lead generation activities they put into place begin to produce tangible results – leads! As a Certified Mentor, brokers are able to recruit and hire the finest agents, and retain them by providing a clearly defined path to success. Certified Mentors also learn how to develop an irresistible office culture that attracts the best of the best! E-Pro
An e-Pro is a REALTOR who has successfully completed the e-PRO training program for real estate professionals. Endorsed by the National Association of REALTORS, the e-PRO course teaches professionals the nuts and bolts of working with real esta te on-line: Websites, email, on-line tools, and most of all, what today’s consumer really wants. In this fast paced age, technology has become a necessity. An e-PRO is someone who has recognized and responded to the needs of the new consumer. If you choose an e-PRO, it’s a safe bet you’ll get the kind of service you want—and need. Accredited Buyer Representative
Working as a Buyer Agent can be quite rewarding, as most real estate buyers need very specific and valuable help in property selection, negotiation, inspections and all the other activities involved in a real estate transaction and closing. It is the buyer representative that has buyer's best interests in mind throughout the entire real estate transaction. These three letters after a REALTOR's name (ABR) tell you that you will be working with a buyer representative who is committed to your best interests. The ABR designation is awarded by REBAC to those REALTORS who have met the specific educational and experiential criteria needed to provide the high level quality service required by REBAC (Real Estate BUYER'S AGENT Council). Certified New Home Specialist
This certification is recognized throughout the real estate industry as the premier certification specific to providing the highest level of service and professionalism in working with builders and new home buyers. As a Certified New Home Specialist, REALTORS belong to a group of the most highly respected individuals in the profession of real estate. Special and targeted marketing needs to be in place for newly constructed properties. Diversified advertising, better promotion, stronger buyers generate superior results. Your Certified New Home Specialist’s job is to take the deal from pouring the foundation to completing the last few finishing touches.
Certified Residential Specialist
Becoming a Certified Residential Specialist isn’t just the advanced training and education they receive. Knowing the marketplace is equally important. To earn the Certified Residential Specialist Designation, every REALTOR must have a significant combination of experience and number of real estate transactions. These strict requirements are your assurance that your Certified Residential Specialist is able to apply his or her education in the real world, giving you the knowledgeable, skilled service you expect. Every Certified Residential Specialist is also required to maintain membership in the National Association of REALTORS and to abide by its strict code of Ethics.

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