- You are not the lender and you don't carry a mortgage.
- The private lender qualifies buyers before they view your home.
- Each party uses their own lawyer at closing.
- The seller pays nothing; we're paid on the buyer's side.
Is this the same as owner financing or vendor take-back?
No. With owner financing or a vendor take-back mortgage, you lend the buyer money and wait to be paid. With No Commission System, an independent private lender finances the buyer. You receive your sale proceeds at closing through your lawyer, just like a normal sale.
Who are private-financing buyers?
People who can't get approved at a bank right now: self-employed workers, newcomers to Canada, people rebuilding credit, or families without a full down payment saved. Many expected to rent for years. When they see a home they can actually buy, they're motivated. More on these buyers.
How it works, step by step
- Add the header "Zero Down Must Qualify / Bad Credit Money Down / Buy This House" to your ad.
- Ask every caller one question: do they need the private financing option, or are they pre-approved through a bank?
- Forward financing buyers to the private lender. Pre-approved buyers you show yourself.
- The lender qualifies the buyer and books a showing.
- Lawyers close it. The buyer, the lender and you each have your own lawyer.
What it costs the seller
Nothing. No fees, no commission, no contract. Questions about rates, loan amounts or who the lender is go directly to Colton, who will answer them personally.
Sell it yourself, with more buyers calling
Add the private-financing header to your ad and let our private lender qualify the buyers the banks turn away. No commission, no contract, no obligation. Listing takes about 5 minutes.
Frequently asked questions
Do I have to lend the buyer money?
No. An independent private lender finances the buyer. You're paid your sale proceeds at closing through your lawyer.
Is private financing the same as a vendor take-back mortgage?
No. In a vendor take-back the seller lends money to the buyer. Here the private lender does the lending and the seller is paid in full at closing.
How much does No Commission System cost the seller?
Nothing. There are no fees, no commission and no contract. We're paid on the buyer's side, through the private financing for buyers who can't get a bank mortgage.
Is this a scam? Can my house be stolen?
No. Nothing is signed with us. Once the lender approves a buyer and they write an offer, the buyer, the lender and you each choose your own lawyer. The lender sends the funds to their lawyer, who closes with your lawyer, exactly like a bank-financed sale.
What if a buyer doesn't need the financing?
Then you handle that buyer yourself and arrange the showing, like any for sale by owner sale.
Why are private-financing buyers so likely to buy?
Because they can't qualify at the bank, your home is one of the few they can actually buy, thanks to the private financing. Many expected to rent for years, so once the lender qualifies them and books a showing, they're very motivated.
Related guides
General information for Canadian home sellers, not legal, tax or financial advice. Rules and fees change, so confirm the details with a real estate lawyer in your province before you sell.