FORGET THE BANK when the owner offers financing. A bank is NOT involved. In most cases there are no credit reports, appraisal fees and many dollars of closing cost. No waiting for loans to be approved. The closing process can take place easily in a matter of just a few days. The seller takes the place of the bank and in most cases a land installment contract, contract for deed or other legal instrument is executed by the buyer and the land serves as the collateral. The interest is calculated into each installment as simple interest. There is no add-on interest and the loan or the balance may be paid off early with no penalty for prepayment. It is EASY, SIMPLE and the process that many sellers and land buyers have been using for years for land sales transactions.