Bill Bronchick’s Coaching Outlines the Benefits of Owner-Carry Installment Sale
Bill Bronchick is a consummate real estate advisor. His excellent mentoring on many real estate issues has been helping a large number of people in making profitable deals. Bill Bronchick’s coaching on owner-carry installment sale is remarkable. Bill enumerates the benefits for both the buyer and seller. As opposed to conventional financing, owner-carry installment sale is a “win/win” for both parties.
Bill Bronchick tells in his coaching classes that most sellers of real property insist on the highest price and all cash. Sellers want a fast closing with little hassle. Sellers also want to pay as little taxes as possible on the gains incurred. In many cases, the seller can have most of his needs satisfied by an installment sale rather than a traditional cash sale.
There is no doubt that a seller can insist on and receive the highest price when offering flexible owner-finance terms, exclaims Bill Bronchick in his coaching. In many cases, the seller can receive more than the fair market value of the property by offering these “soft” terms. People are always willing to pay a premium for non-qualifying financing.
On the other hand, the buyer, in many cases, prefers an installment sale to conventional financing because it does not require traditional bank income and credit approval. The buyer may have poor credit because of a divorce or recent bankruptcy. He may be self-employed and cannot prove income. He may be new to his job and cannot meet strict lender guidelines.
Even if he could qualify for a loan, the rate will be astronomical if he has poor credit. Furthermore, few conventional lenders offer fixed interest rate loans to people with a poor credit rating. As you can see, there are dozens of reasons why a buyer cannot (or will not) qualify for a conventional bank loan. The installment sale becomes the perfect solution for him, tells Bill Bronchick in his coaching.
To learn more, visit www.billbronchickcoaching.com.
About Bill Bronchick Bill Bronchick, CEO of Legalwiz Publications, is a nationally known attorney, author, entrepreneur, and speaker. Mr. Bronchick has been practicing law and real estate since 1990, having been involved in over 1,000 transactions. He has trained countless people all over the United States to become financially successful, speaking to audiences of as many as 16,000 at "Get Motivated" events sharing the stage with names like Rudy Guliani, Steve Forbes, and Colin Powell.
His best selling book, ‘Flipping Properties' was named one of the ten best real estate books of the year by the Chicago Tribune. Bill Bronchick is also the co-founder and President of the Colorado Association of Real Estate Investors and the President and Chairman of the College of American Real Estate Investors.