Since banks are not usually involved in the financing of purchases of most agencies, there are three sources of financing that a brand-new buyer may wish to look for. The first is seller financing. It happens, but much less often today than in previous decades. As a result, one obvious source of financing is the seller himself or herself. Most sellers are aware of this, and are usually willing to grant some financing if the key items mentioned above exist.
Most financing extends for two to eight years.
You may have to negotiate interest rates on the financing, with the interest sometimes amounting over the years to as much as the purchase price. You may also have to accept the seller's continued involvement in the agency, since the seller is not likely to walk away completely until the full purchase price is paid. The second is partner financing. Be careful here. If you are going to live in close quarters with a partner for many years to come, you need to quite sure you have a partner you can trust, rely on, and get along with even when times are tough.