In this video, I discusses the vendor take-back mortgage.
You use this tool when there are no other options available. You use it sometimes when you are desperate and you use it sometimes for convenience. It’s also something that most sellers may not consider, but it could turn out to be a savvy investment for them. In this video, I go over all the pros and cons of the vendor take-back mortgage and why you need to understand how it works.
Barry Lebow, FRI, Master-ASA, ABR, SRES, is one of Canada’s most recognized real estate authorities. Now in his 54th year of professional real estate, Barry has been honoured by many real estate associations for his work in the profession. He has testified in more than 500 trials across North America. He is the founder of the Accredited Senior Agent designation program. A teacher, trainer and educator, he is an active broker at Re/Max Ultimate Realty in Toronto. Visit barrylebow.com to contact Barry.