Dawna Davies and her assistant Jodi Blanchard did an exceptional job in helping us sell our home in San Luis Obispo. Dawna’s intelligence and knowledge of the business made the whole complex process easy for us to understand and navigate. What seemed like counter-intuitive advice at the start—that we should be extremely thorough in discovering any possible problems with the forty year old house and present them in advance—turned out to streamline the final transaction by building trust in potential buyers and removing the possibility of unpleasant surprises and uncertainty for us. Her contacts with a wide range of local business people who carried out many preparatory operations quickly and economically offered another unique benefit. Her tact and amiability made our numerous interactions pleasant rather than wary. And Jodi’s work in converting the box full of documents from our files into a coherent house-maintenance-history binder meticulous and creative. From start to finish our involvement with Davies Company was personally as well as financially rewarding.
- Conventional lenders. Banks, credit unions, mortgage companies, insurance companies, government agencies including Farmers Home Administration and Cal Vet are all considered conventional lenders. Shop for the assortment of loans available that meet your needs.
- Existing loans. If documents are available, review the note and trust deed documents to see if you can assume the existing loan, take property subject to the loan, or wrap around it.
- Seller Financing. Many sellers like the potential interest income that they can get by carrying the financing for the buyer. Buyers enjoy the flexibility that this financing structure can give them. One possibility is that the seller can take a blanket loan on several properties owned by the buyer, take a first lien, second lien or other combinations of financing structured to meet both parties needs.
- Private Loan. Individuals lenders with available cash to invest or pension plans looking to diversify are good sources of funds to purchase property. Some companies specialize in private loans to developers using their development land or other property as security.
- Syndication. If the property is too big for one person, a group of investors who have the resources to pay cash for the property or can borrow against other assets. The group could be the property owner or the lender or some combination of both. The syndicator could ask for an option to purchase the property in the future after the investors had achieved their goals.