Find Owner-Financing for Homes in South Carolina

Hello,

Owner financing means that the seller participates in financing the purchase of the property. Three forms of owner financing are used in South Carolina. The first, Rent to Own, refers to purchasing a new home on a lease option. This means the purchaser will buy the home in the future and a portion of the lease payments will go toward the purchase. The second, Seller Carry Back, occurs when the seller acts as the lender and carries a second mortgage on the home; the buyer pays the seller each month's payment. The last, Land Contract, means that the seller holds the title until the contract is fulfilled.

1. Contact a realtor in South Carolina. Realtors will have access to listings of owner-financed homes across the state. They can research homes by county, city, and price. A down payment is usually required on these homes. According to "Finance with Owner," you may be able to negotiate low payments and smaller down payments.

2. Search the Internet. Many home owners are placing owner-financing ads on home-purchasing sites. Searching for "owner financing in South Carolina" will yield a list of sites that showcase homes by area, square footage, number of bedrooms, and price.

3. Pick up a free house finders guide. These guides are available across the state of South Carolina in restaurants, convenience stores, and gas stations. They list homes and land that are available throughout the state.

4. Call the Department of Housing and Urban Development (HUD) office in South Carolina. HUD offers counseling services and assistance in home buying, and the agency can give you insight into the home-buying process.

Thanks and Regards
Michael Earl