Posted by Brian on August 10, 1999 at 11:17:33:
I’m just starting out. I live in Canada, Toronto area and I’ve been getting a lot of discouraging remarks from agents saying that L/O’s and seller financing are a thing of the past. They say it is so much easier for buyers to qualify for financing at banks due to the current low interest rate of 6 1/4 and minimum 5% down payments required that creative financing is no longer attractive to sellers. If someone could please fill me in on whether the market rates should make a difference I would greatly appreciate it as my moral is starting to decline. Even though it may be tougher I would like to know if it is as least still feasible. I’m hoping that it is just the agents ignorance and that they don’t have a strong grasp on the markets real potential. Thank you in advance.