What is the primary target of a seller financing scheme?

In a seller financing scheme, the primary target is the sellers themselves, who may be offering to hold the mortgage for the buyers instead of requiring the buyer to secure traditional financing through a bank or mortgage lender. This option can be particularly appealing to sellers who want to facilitate the sale of their property, especially in a market where buyers might find it difficult to obtain financing or where the seller wishes to sell quickly. By providing financing, sellers can attract a broader range of potential buyers, including those who may have less-than-perfect credit or other barriers to obtaining conventional loans.

This arrangement can also benefit the seller, as they may be able to negotiate better terms for the sale and can potentially receive a steady stream of income through the mortgage payments. The buyer, in turn, may benefit from more flexible financing options and a potentially quicker purchasing process. The focus is on the relationship and agreement between the seller and the buyer, where the seller takes on the role of the lender.