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Owner financing is when a person finances the purchase of a house through the person that is selling it. Here are some great tips for getting owner financing. The first tip is to review the buyer’s credit. This is a great way to see how a person paid their bills how the bills will get paid in the future. You can just ask for a copy of the credit report. The second tip is to get a down payment. By getting the down payment, it is highly unlikely that the buyers will stop making their payments because of the money that is invested already.Additional information can be found at http://tirenajones.com/2011/07/12/successful-cash-flow-control/.

The third tip is to set the terms. All of these terms will include interest rate, payment amount, frequency, and the due date for payment in full. There are also late fees, default clauses, and requirements for insurance. The fourth tip is to get help with the documents. This means to get all of the terms of the financing in writing. The best thing to do is to get a qualified lawyer to represent you. The fifth tip is to collect all of your payments. This means tracking the payments, interest, and balance with any taxes or insurance.