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    While the property is traditionally purchased by taking out a mortgage with a bank, you can also use vendor finance to skip the bank application process and secure your next property. Often referred to as “seller finance”, vendor finance is an alternative way to achieve homeownership without having to take out a mortgage with a traditional lender.  Vendor finance also refers to ways in which you can start owning and paying off your home even if you have poor credit  or employment history or you’re unable to qualify for a traditional home loan for any other reason. Vendor Finance  is finance offered by a seller (a Vendor) to finance the sale of goods, services, or real estate to a buyer (a Purchaser). Most commonly, sellers offer “terms” to Purchasers to pay “some now, some later”.  The “some now” is a deposit, the “some later” is an arrangement to pay the balance price of the price by installments . The Power of Vendor Finance Found a property you want ...

  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...