Bergen County, NJ - 2013 HUD Fair Market Rents
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$1,132 $1,223 $1,450 $1,878 $2,130
Essex County, NJ - 2013 HUD Fair Market Rents
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$971 $1,007 $1,202 $1,550 $1,772
Hudson County, NJ - 2013 HUD Fair Market Rents
Efficiency One-Bedroom Two-Bedroom Three-Bedroom Four-Bedroom
$1014 $1,115 $1,322 $1,682 $1,857
Acquisitions

We use a variety of financing techniques to acquire real estate including:

Assumable Mortgages.  While banks have traditionally not allowed assumable mortgages today’s market is seeing signs of it. If you are a seller interested in selling your property, you should contact your bank to find out if your mortgage is assumable. In this sort of agreement, the buyer takes over payments on an existing mortgage. Both the buyer and the seller can save on higher closing costs associated with new mortgage debt.

Seller Financing.  As the term implies, the seller provides a portion of the financing, typically in the form of seller carry backs, seller holdbacks or second mortgages. A partial financing agreement might mean, for example, the bank lending 80 percent of the purchase price, the buyer contributing a 10 percent down payment and the remaining 10 percent being lent by the seller. The seller acts as a bank offering an additional mortgage in order to complete the sale.
For more information sellers should read, "How to Sell Your Real Estate When Real Estate is Not Selling," by Steve Hochman, founder and president of Friendly Note Buyers Inc.,

Lenders typically require seller financed mortgages to be at least 5 years in duration. Most deals are typically 10 to 20 years. These loans are often interest-only with the buyer owing the seller the entire balance at the end of the loan term. Typically the buyer will refinance at that time.

Sellers are generally motivated by this type of financing arrangement when (1) their property will not sell and/or (2) when they realize that they can get a better return on their money from giving the buyer a mortgage than they could investing elsewhere.