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Forte Properties is a full service real estate company that specializes in Owner Financed homes in Cedar Park, TX and surrounding areas. We have EXCLUSIVE access to over 250 Owner Financed homes in the greater Austin area. Homes other investors don’t want you to know about! We know how important the decision is when you have to choose professionals for various needs in your life; we take helping people like you who want to purchase a home very seriously.

We have teamed up with Exit Options Realty and work hand in hand with dozens of professionals in various facets of the real estate market dedicated to assisting you with whatever your real estate needs may be. We work with licensed RMLO’s and Real Estate Attorney’s to ensure all of our Owner Financed home sales are 100% legal and conform with the new Texas S.A.F.E. Mortgage Act. Why risk it with anyone else??

Our customers are at the heart of what we do, and we are committed to finding your perfect home, based on your preferences, in a timely manner, for the best price possible.

You want to purchase a home; unfortunately, the ongoing credit crunch makes being approved for a traditional real estate mortgage loan daunting at best. If you are self employed or on fixed income, or have had a bankruptcy or past foreclosure, you can qualify for our Owner Finance program. If you have at least 5% to 10% down and can afford monthly payments, you are approved!

So what are you waiting for? View our available homes at http://www.AustinOwnerFinancedHomes.com, and if you do not find what you are looking for, register for our new home email list and we will send you homes based on your search criteria!

Oh here we go again. I heard from another realtor just this week; oh my seller cant sell a property and let someone take over the payments because the bank may use the Due on Sale Clause to ask for all their money. In the same conversation the realtor outlines the sellers best plan of action is to keep dropping the price (who cares that its the sellers ,000 to ,000 of equity just being thrown out the window) or rent it out.

Many realtors today without hesitation will suggest to their clients, if you cant sell, just lease it out yet the realtors dont sit down and list all of the ridiculous reasons landlords have been sued and LOST millions over. Renting has been around forever and the risks of being a landlord are just an acceptable risk verses the reward of not making vacant house payments or not letting the home go to foreclosure.

Yet at the same time, those same realtors because they are unfamiliar with owner financing as a selling option will say dont do owner financing its too risky. Oh really? Can the buyer living in the owner financed home sue the seller? Nope, not if you construct the transactions the way I do it. If the buyers dog bites the neighbor kid or the UPS guy, can the injured person sue the seller who provided the owner financing? Nope. If the buyer does something stupid, can he sue the seller who owner financed him the home? Nope. Yet if you substitute tenant and landlord instead of buyer and seller in the above questions. The answer becomes yes to everyone. In every one of those scenarios the landlord can be sued, has been sued and has lost.

So I decided I wanted to issue a challenge to all those Due on Sale Clause Nay Sayers out there. Find me lawsuits pertaining to violation of the due on sale clause. Youll find lots of articles from others saying, oh my gosh dont violate the due on sale clause. But find me some that actually have. I cant find any and Im on my third day of searching.

Id bet if youre someone who says to a seller (who cant sell) rent it out, you say that because renting has been around since the dawn of time.  And the risks associated with renting are well known and people take that risk anyway.

I bet no one points out that a 10 year study finalized in 1998 showed that Landlords/Property Managers/Apartment Complexes were the MOST sued business in the United States. Granted only 50% of the landlords lost. But how much did it costs those landlords in time and legally fees to win the battle?

The Due on Sale Clause has been around since 1933. Can you please find me lawsuits where sellers have lost millions due to its enforcement. I cant find them can you???

“A wrap-around mortgage, more-commonly known as a “wrap”, is a form of owner financing for the purchase of real property. The seller extends to the buyer a junior mortgage which wraps around and exists in addition to any superior mortgages already secured by the property. Under a wrap, a seller accepts a secured promissory note from the buyer for the amount due on the underlying mortgage plus an amount up to the remaining purchase money balance.

The new purchaser makes monthly payments to the seller, who is then responsible for making the payments to the underlying mortgagee(s). Should the new purchaser default on those payments, the seller then has the right of foreclosure to recapture the subject property.
Because wraps are a form of owner financing, they have the effect of lowering the barriers to ownership of real property; they also can expedite the process of purchasing a home. An example:

The seller, who has the original mortgage sells his home with the existing first mortgage in place and a second mortgage which he “carries back” from the buyer. The mortgage he takes from the buyer is for the amount of the first mortgage plus a negotiated amount less than or up to the sales price, minus any down payment and closing costs. The monthly payments are made by the buyer to the seller, who then continues to pay the first mortgage with the proceeds. When the buyer either sells or refinances the property, all mortgages are paid off in full, with the seller entitled to the difference in the payoff of the wrap and any underlying loan payoffs.

Typically, the seller also charges a spread. For example, a seller may have a mortgage at 6% and sell the property at a rate of 7% on a wraparound mortgage. He then would be making a 1% spread on the payments each month (roughly, anyway. The difference in principal amounts and amortization schedules will affect the actual spread made).
As title is actually transferred from seller to buyer, wraparound mortgage transactions will violate the due-on-sale clause of the underlying mortgage, if such a clause is present.”

For more great information on Owner Financing… visit Forte Properties in Austin, TX online at http://www.AustinOwnerFinancedHomes.com