Sec. 2. Findings
103 words·~1 min read·
/bill/115/hr/1360/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Congress finds the following: Real-estate seller financing is a transaction in which the owner of a real estate property provides financing for the buyer of that property and the buyer makes some form of a down payment to the seller and then makes installment payments to the seller over a defined period of time. Seller financers provide financing in lieu of the buyer choosing to obtain a loan from a bank. The seller finance industry consists of small business owners who own real estate and provide financing on those properties to underserved borrowers who cannot or would prefer not to obtain traditional financing.