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b'ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode\\n\\n\\n\\n\\n\\n\\n\\n\\n{"@context":"http:\\\\/\\\\/schema.org\\\\/","@id":"https:\\\\/\\\\/onproperty.com.au\\\\/buy-property-vendor-finance\\\\/#arve-youtube-sq4ywtdfdp4659a0b2e58cd0870086993","type":"VideoObject","embedURL":"https:\\\\/\\\\/www.youtube-nocookie.com\\\\/embed\\\\/SQ4YwtDfdP4?feature=oembed&iv_load_policy=3&modestbranding=1&rel=0&autohide=1&playsinline=0&autoplay=0"}\\n\\n\\n\\nAre you interested in buying property through vendor finance? Here\'s some tips on how to do it.\\n\\nHow do you buy property through vendor finance?\\n\\nHey! I am Ryan from OnProperty.com.au, helping you find positive cash flow property and one of my readers, Gordon, has asked me to explain how you go about buying property through vendor finance. So I wanted to talk about this a little bit. I have made a whole bunch of offers on properties through vendor finance. Some have been accepted. Most have been declined. I have never actually gone through with it and purchased a property through vendor finance, but I know a little bit about how to go about doing it.\\n\\nFirstly, let me just touch on what vendor finance is if you do not know what we are talking about. So vendor finance is when you purchase a property - so a buyer purchases a property from the seller, but rather than the buyer going out and getting a bank loan and coming back and giving the seller a bulk amount of money for the property, or the bank giving the seller a bulk amount of money for the property; the buyer actually goes to the seller and says, "Hey look, I can give you a deposit for this property and I want you to loan me the rest." So basically, the buyer creates a loan with the seller or vice versa.\\n\\nThey create a loan together. And so the buyer then needs to repay the seller just like they would repay a lender, so there are interest repayments on the vendor finance and generally in the future, there could potentially be a lump sum payoff if you can go and get a bank loan from a traditional lender. So that is what vendor financing is. Rather than the buyer going out and getting financing from the bank, the buyer gets the financing from the seller and pays them back over time.\\n\\nThis benefits the seller because generally they get a higher than average purchase price for their property or sale price for their property and they can charge a higher-then-average interest rate, meaning it is going to generate positive cash flow for them. It can benefit the buyer because it means you can get into the market where otherwise you may not be able to get a loan from a bank; so you can get into the market earlier. But you are likely going to pay more and need to pay a higher-than-average interest rate.\\n\\nSo let us say that despite the cons of purchasing a property with vendor finance being a higher purchase price and a higher-than-average interest rates, you still want to go ahead and you are still in exploring this option of potentially purchasing a property through vendor finance. How do you go about doing this?\\n\\nWell, it is very difficult - I dare say impossible, to find a property online that is selling through vendor finance. I am just going to go online right now and have quick look. The best website to search this stuff from is called MyRealEstate.com.au. So let us go ahead and we are going to go to MyRealEstate.ocm.au. Now this is like the Google of real estate if you will, and you can put in search terms like vendor financing, owner financing, seller finance, all of these sorts of things, to search for property.\\n\\nSo let us just start by searching vendor finance. So that is now going to bring up a bunch of different properties here. We can see some land that is available. We can see a house here in Katherine in the Northern Territory. You can see that most of these houses are not spectacular, are not super exciting, and there is no guarantee that any of these will actually offer vendor finance. But if I go into it,'