Creative Real Estate Down Payments
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Creative Real Estate Down Payments
Creative Real Estate Down Payments Conventional wisdom is that you can buy a piece of real estate only with a cash down payment. However, that conventional wisdom is wrong! You can use almost anything as a down payment to buy real estate. I, and other people I know, have used countless items of personal and real property as a down payment on real estate. As a seller of property, I have also gladly accepted items of personal and real property as a down payment. These items as down payments were the lubricant that made a transaction possible which otherwise would not have closed. The definition of down payment is "the part of the purchase...
price paid in cash up front, reducing the amount of the loan or mortgage." This book explores the how to of a number of different strategies to use creative down payments. What could you give or accept as a down payment on real estate? Examples include: ? Real Property: Houses, Condos, Apartments, Commercial Buildings, Commercial Land, Residential Land, Recreational Land, Dock Slips ? Building Supplies: Lumber, Carpet, Plumbing, Lighting ? Financial Instruments: Stocks, Bonds