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  • Profile photo of Louisa NLouisa N
    Participant
    @louisan
    Join Date: 2015
    Post Count: 1

    Hi Everyone:

    I am hoping to learn some useful info here regarding vendor finance.

    I have a residential property in Victoria which I am interested in selling. I have received an offer on the property, which involves vendor finance. The potential buyer is offering 80% of the purchase price & the rest over two years.

    I don’t know where to begin. Where might I seek advice on this one? Just how does vendor finance work? What are the risks?

    Links to any related resources would be much appreciated,

    Thanks!

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    You will essentially be lending the buy the 20%. You will need legal advice on the terms of the agreement.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of TaylorChangTaylorChang
    Participant
    @scha9799
    Join Date: 2009
    Post Count: 234

    What you can do is to negotiate with the buyer on all the terms&condition and price.

    Once both of you agrees on thing(s) put down in writing, then use it as a draft to form a formal legal agreement by a solicitor.

    Make sure your contract is done by a solicitor who has experience in vendor finance.

    TaylorChang | Finance Broker
    Email Me | Phone Me

    Home loan | Commercial loan | 0414 691 517

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