: If a buyer can only get a bank loan for 70% of the price, the seller might "hold a note" for the remaining 30%.
: Instead of a bank providing a mortgage, the person selling the B&B acts as the lender.
: Ensure the loan is publicly recorded to protect both parties' interests.
Before entering a seller-financed B&B deal, consider these common structural elements:
: If a buyer can only get a bank loan for 70% of the price, the seller might "hold a note" for the remaining 30%.
: Instead of a bank providing a mortgage, the person selling the B&B acts as the lender.
: Ensure the loan is publicly recorded to protect both parties' interests.
Before entering a seller-financed B&B deal, consider these common structural elements: