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  That’s correct Vendor Finance Contract is NOT illegal. If you haven’t done so already, take a look at our previous article  “ What is Vendor Finance and Is It Worth It? ”. With obtaining finance from banks and other traditional lenders becoming increasingly more difficult to obtain, we are receiving a growing number of inquiries about vendor finance. The most common comment clients make when enquiring about vendor finance is that they have spoken to their regular solicitor and they have said this type of transaction is illegal. This comment generally stems from a lack of knowledge and understanding of vendor finance and the fact that these types of transactions are not commonplace in Queensland. However, these types of transactions are in fact legal, and here at  Aylward Game Solicitors we have been successfully drafting and producing vendor finance contracts for Buyers and Sellers for more than 20 years.    What is Vendor Finance? Vendor finance  is a fo...

What is Vendor finance? A buyer may need a loan to purchase the house. There are different kinds of loans, like bank loans. But these loans require payment proof or a guarantor. It is not possible for people with a low pay rate. So, when a seller arranges money for the buyer, it is called vendor finance. This money is returned in instalments at specific intervals of time. Purchase vendor finance homes is a completely different method. We take a look at what it means and the pros and cons of Vendor finance . It is advised to take expert advice before asking for vendor finance. As  there are some risks in these kinds of loans . So, before signing any agreement, ask the experts. Aylward Game is one of the old vendor finance advising company. They can assist you in your property purchase.   Risks of vendor finance? You may look for vendor finance if you don’t fit on the merit of a bank loan or any other financial assistance. The vendor finance is often good, but it can be ris...