As many of you out there know, sellers are offering many incentives now to move thier inventory.  We are seeing many things such as closing costs assistance, allowances, vacations, flat screen TVs, rate buydowns, etc...

One incentive i'd like to highlight is the seller held second mortgage.  I grabbed an article from Realtor.com to show here. As you buyers look at it, i want you to think of the incentives offered as well as what Neptuneblu.com offers.  Remember you can ask for many things in your offer, and now is the time to do it. If your on the fence about buying, take your time, but don't miss this buyer's market. you will surely be sorry.  If you couple some closing cost assistance with a small seller held second and recieve Neptuneblu's refund- you can buy with no money down or even recieve buy with no money down and recieve cash back at closing!!  here's the article-

Sellers Offering to Take Back Second Mortgage
Worried sellers are again considering financial incentives, including taking back a second mortgage to entice buyers.

Several factors can make a second trust, as it is often called, attractive to buyers and sellers, including:

—The buyer won’t need to come up with so much cash.

—The seller can set the interest rate below what the buyer could get almost anywhere else.

—A seller can defer a portion of any capital gains tax he might owe on the property.

But there is also at least one big negative to consider. The second trust will be recorded in the land records after the first loan and always will be in the second position. If the first loan goes into default and the lender forecloses on the property, the second trust will be wiped out. The seller holding the second trust can sue the borrower based on the promissory note that is usually signed, but that might be pointless if the borrower has no money.