It took about a week, but just negotiated a seller carryback on a $200,000+ lot in NE Tucson. A seller carryback is synonymous with seller financing, whereby the seller agrees to accept monthly or quarterly payments, thus alleviating a buyer from jumping through lending rules and costs.
The buyer typically comes in with a substantial down payment (25%+), enough for the seller to feel justly compensated in the event seller has to foreclose on buyer for non-payment…..which, by the way, I have not seen happen in my 35+ years of selling Tucson land.
Offering selling financing may not increase the value of a property, but it really might make a difference in the property selling sooner rather than later.
