Buying a Property by Vendor Finance
Vendor is a person who is selling their property and the person who is purchasing
the property is the purchaser.
When we are buying a property that involves lot of
cash and a good amount of investment as the real estate...
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Buying a Property by Vendor Finance
Vendor is a person who is selling their property and the person who is purchasing
the property is the purchaser.
When we are buying a property that involves lot of
cash and a good amount of investment as the real estate market is growing and the
rates are property are high and in this it may happen you would not have that
amount in liquid cash and thus that is when the vendor finance comes in to
existence.
In this vendor finance scheme the vendor that is the seller pays the
amount on the behalf of the purchaser.
In this people agree on the terms and the conditions that are set by the vendor then
only the deal is taken further.
Till the time the whole amount is paid by the
purchaser to the vendor the property remains on the name of the vendor and when
the whole amount is paid the property is transferred to the purchaser.
Purchaser is
allowed to use the property till that time.
This is a very convenient option for both
the parties and it is bette
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