5 Ways to Buy a House Without a Bank Loan (Article)

De: Tom Sheppard

Narrado por: Virtual Voice

For thousands of years, all over the world people bought and sold real estate without the aid or interference of either banks or the government. Occasionally the buyer had all the money needed to buy and the transaction was simple. The seller gave the buyer title to the property, took the money and walked away. When the buyer didn’t have enough money of their own, sometimes they would borrow money from their friends, family or associates, promising to pay the loan back, often with interest. Again, the seller gave the buyer the title, took their money and walked away. Most often, the buyer would get the seller to accept all or part of the money for the sale over a period of time. Sometimes the payments included interest and other times they did not. In those circumstances, the seller would usually take a down payment from the buyer along with a promissory note where the buyer stipulated how he was going to pay the remainder of the money to the seller and the seller gave the buyer title to the property, but retained the ability to take back the property if the buyer failed to fulfill the promise of payment stated in the promissory note. Enter - the bank! Bankers realized they could make money by lending money to people to buy homes. In fact, they make lots and lots of money doing that. So much money that they have been able to get laws passed to make it hard for ordinary folks to think about exercising their rights and buying houses without getting the bank involved. Today, people seldom even think about buying a house without first finding out if a bank will lend them money to buy a house. This simple 6,000 word article gives you at least five ways you can buy a house with having to first get the bank to agree to lend you the money. The author has successfully used these techniques to buy and sell real estate for more than a decade and these techniques have been around for much longer than that. Professional real estate investors use them all the time. Isn't it time that ordinary home buyers got the same advantage?