Due to reasons such as negative credit score sometimes a prospective buyer is not eligible for traditional methods of financing. In situations as such, non- traditional ways of financing may be used. Some of these methods are:
1. Seller Financing: It is financing from the seller itself which is re -payed in instalments executed through a promissory note deciding on interest rate, repayment schedule and default consequences.
2. Selecting Lease option: After a specific period of paying rent the renter has an option of buying the property.
3. Take loan against life insurance policy: Borrowing money against life insurance accumulated dividend doesn’t require qualification.
These are some of the methods that can be employed for buying property in non-traditional methods through Warwick estate agents.
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