Understanding Your Vendor Finance Options
If the traditional approach to selling your property is not working for you or you are having difficulty obtaining bank finance to buy your home or investment property then we may have another way to assist your sale to happen oder your purchase to proceed, known as vendor finance.
Vendor finance, sometimes called seller vendor finance or owner vendor finance is nothing new and has in fact been
around for many years, and is often used in one form or another in commercial transactions.
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About Vendor Finance
What is relatively new in Australia (from our experience at Aylward Game Solicitors over the last 10 plus years) is the application of vendor finance methods to buy and sell residential property.
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Over that period the use of vendor finance methods has grown in popularity and is particularly popular now due to the current economic environment with a depressed property market and the extremely tight and inflexible credit policies of many banks and financial institutions.
If you are a seller and want relief from mortgage stress or a buyer wanting to leverage finance, a permanent new home can be secured using vendor finance.
Mark Game has over 10 years experience in preparing Installment Sales Contracts and Lease Options in relation to both residential and commercial property and vendor finance.
Ease Stress, Maximize Leverage
Vendor finance is ideal for someone trying to sell a property because it helps them deal with and ease the stress of mortgage payments. This can help them sell their property sooner rather than later and even get the price they have always wanted. Buyers are able to benefit a great deal from vendor finance as well.
Using the system, they are able to leverage their finances so then they have a higher chance of being able to find that property that they have always wanted.
Vendor finance is also ideal for anyone who is having difficulty with their bank. Because the property market has been going through a period of depression, banks are tightening their credit policies further and further still. This means that people who are looking for help from their bank so they can buy or sell a residential property are being rejected.
Vendor finance is now widely considered to be the solution to that problem, which is why it has become so popular over the last 10 years.
Vendor finance could even hold the key to improving the residential property market in the future, and this method of finance could stick around even after the market has picked up such that people who are struggling are now able to get a helping hand when they need it most.
Vendor Finance Lawyers
Individuals and corporations that intend to start, sell or purchase a business have to deal with the different aspects of commercial business law.
At Aylward Game Solicitors, you can obtain the appropriate assistance and advice you need to address these legal matters. From different large scale enterprises to sole proprietors of small local business, Mark Game has the extensive knowledge and skills to assist clients in undertaking diversified businesses inside and outside of the state within trust, joint or corporate business structures.
When you start a new enterprise, it is an absolute necessity to obtain the correct advice early on to steer clear of any consequence that may cause you much expense or restrict the development and growth or your business venture.