Owner Finance - Pros and Cons of Owner Financing As Seller

http://www.REIClub.com - Selling Property With Owner Financing? Here’s Some Owner Finance Benefits and Risks for Real Estate Investors...Owner Financing PROS- Terms of deal are flexible and negotiable- Higher sales price- Tax breaks- Monthly income- Favorable Returns- Shorter listing term- Attract a larger number of interested buyers- gives buyer time to repair credit to get conventional loan- Eliminate repair costs- Substantial savings in closing costs- Sell the contract and cash out - note buyingOwner Finance CONS- Have to be familiar with current loan terms- Buyer may still default on loan at end of term- Property may need repairs if buyer defaults or back-outs- No full equity payment upfront- Headaches of being a lender- Verifications- Possible foreclosure- Evictions