Your home is sitting on the market not because the purchase price is too high, which is why you may have lowered the offer price multiple times and it still isn't selling. Its the monthly payments are sometime over 50% higher than what they were a year ago. This is because everything is rising; the interest rate, taxes, insurance, utilities, etc. everything is raising in price making monthly payments to acquire a home near impossible. Landlords are facing the same costs too, which is why rents are rising too.
So how does Garber come in and alliviate the pain of a homes sitting on the market? Because we are of the very few investors who use creative financing and not just cash. What is the advantage of this? Well we don't have to go get a loan from the bank, we upgrade you, the seller, to the bank. If you have a mortgage, we leave it in your name or we can assumue it, and make payments on it ourselfs. We do this so we dont have to get a loan from another bank to pay off the loan from your bank; the only people making money in this exchange are the banks.
Because we aren't using a conventional loan, we don't have to use restraining expenses and rules that make it hard to do business. The term length, down payment, interest rate, and balloon are all negotiable. We can work together to make sure that all parties involved win.
We still have lawyers write up ou contracts to ensure we follow legalities and that you the seller (bank) are secured. We also write up a performance clause that states that if we miss ONE monthly payment you receive the home back in lieu of going through foreclosure. Thats right, no long and dragged out process to get your home back. You keep the down payment, any payments we made prior, and any renovations we made to the home.
Though we have this clause, it has not been used once. We have over 1,000 units and we ensure that you will never have to worry of a default happening, even though it is more beneficial to you than detrimental. I mean, thousands of dollars from the down payment and plus the thousands from our payments, plus a home with updates, PLUS the ability to sell the home again... But sorry, a default will never happen.
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