DQNews Archived Article

Oregon Home Sellers Finance Home Buyers

by Real Estate Analyst John Karevoll
July, 1995

La Jolla, CA.—Home sellers in Oregon often step in to provide financing to home buyers, a real estate information service reported.

During the first five months of this year, 1,031 home sales were financed wholly or in part by the seller, DataQuick Information Systems reported.

That accounted for 11.8 percent of all home purchase loans, up from 8.8 percent for the same period a year ago. The percentage has remained stable between 8.0 and 13.0 percent the past five years.

Selling a home is much easier if you're willing to carry a second and you're more likely to get close to your asking price. It also makes it easier for your buyer to qualify for a first mortgage with a traditional lending institution, said Donald L. Cohn, DataQuick CEO.

We also see sellers taking on the whole first mortgage loan. If the circumstances are right, the monthly mortgage payments are a good source of secured income, he said.

DataQuick, which has an office in Portland, monitors home sales and financing nationwide, and provides information to consumers, lending institutions, title companies and industry analysts. The numbers include all " arms-length " sales of condos and houses.

Seller financing is most common in rural areas and in the second-home market. At 13.0 percent, Clackamas County had the highest percentage of seller-financed home purchases.
Washington County had the lowest level of seller financing at 7.7 percent, DataQuick reported.

Source: DataQuick Information Systems

For more information call John Karevoll (909)867-9534

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