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Simultaneous Closings
A simultaneous closing is
an alternative technique that a seller can use to sell their piece
of property. In this case, the seller acts as a bank and creates a
real estate note. In creating the note, the buyer and seller of the
property agree to terms of payment on the property.
So, instead of receiving
the asking price for the property, the seller will instead receive
monthly payments, just as a bank would who approved someone for a
loan. The payments may be made for 10, 15, 20, 30 years etc… It all
depends on the agreement made between the buyer and seller.
Now, the catch is that
many sellers don’t want to receive the small monthly payments in the
first place, but they don’t know that they can sell their real
estate note for a lump sum of cash. That is where we come in! We
can get for you the cash amount that you are looking for out of the
property that you sold. As you can see, the simultaneous
closing technique is a great way to sell your property.
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