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Pros and Cons of Creative Financing

My husband and I have been trying to sell our house in Arlington, Texas since September. We've had almost 40 showings, have dropped the price a few times (currently listed at $450k) and recently received this email. It is our only offer so far. Any information you can provide about possible pros and cons or questions we should be sure to ask about this "creative financing," we would be extremely grateful.

Here is the information we've received,

"Offer Summary

  • Purchase Price: 450000.000000000
  • Seller Net: $3,000 – $8,000 cash to seller at closing
  • Closing Costs: Buyer covers 100% of all costs (listing commission, title, escrow, etc.)
  • Commission: 0% buyer’s agency commission, further increasing seller’s net
  • Terms: We will purchase “Subject To” the existing mortgage and take over all PITI (principal, interest, taxes, and insurance) and all maintenance responsibilities.

Why This Works for Your Seller

  • No Red Tape: This is not a formal loan assumption—no lengthy bank approval or financing contingency.
  • Professional Execution: We work with a licensed transaction coordinator and a reputable local title company to ensure all disclosures are handled properly.
  • Flexible Equity Options: We’re open to structuring the remaining equity in whatever way best meets your seller’s goals."

My realtor said that it would be our name on the mortgage, but they get the deed and would pay off the mortgage directly to us. He said he would work to get the final balloon payment to 5-7 years out.

Thoughts?

Thanks again

submitted by /u/Cleed79
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source https://www.reddit.com/r/RealEstate/comments/1svewv8/pros_and_cons_of_creative_financing/
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