Buyer Mortgage Financing For MLS Sales Versus Private Sales

Posted by PropertySold on Jan. 09, 2011

Tell the world:

If you sell your home privately, will a bank still give a mortgage to a buyer? Banks often deal with properties that are sold on MLS. This does not mean that buyers will not be able to get financing for a private sale. When banks give financing for a private sale, they may require an full appraisal to verify that the sale price was in line with current fair market prices. When you sell private, you can avoid paying high real estate commissions. This means that sellers can save thousands of dollars when they sell their home. Sellers often pass some of these savings onto buyers.

Categories How To

Tags appraisals, buyer, condo, financing, home, house, mls, mortgage, mortgages, private sales, privately, selling

More Details »