Brokers: Seller financing on its way to Birmingham
The Birmingham Business Journal -
March 6, 2009
by Lauren B. Cooper
Local commercial real estate brokers said a growing number of property owners are considering seller financing to get deals done and to free up capital.
With debt markets nearly frozen and banks requiring more equity, many in the industry say commercial real estate deals are taking a hit and brokers and owners are having to think outside the box with alternative financing options.
And while seller financing is not widespread in the Birmingham area – yet – owners acting as lenders could gain more ground if conditions don’t get better and capital isn’t released, local industry watchers said.
EGS Commercial Real Estate Inc. President Bill Pradat said he believes it could be in the pipeline for Birmingham if conditions don’t get better, especially since it’s being used in other major markets.
Read the full story on The Birmingham Business Journal website.
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