Seller financing can provide many unique benefits to a anyone trying to sell their home. Many home owners want to sell, however may not want to wait the time it usually takes to sell with a realtor. FYI – It can take months for a buyer to obtain financing.
One of the greatest things about seller financing is that, if used properly, it can provide you with a nice stream of passive income and actually increase your purchasing power when buying your next home.
Most home owners LOVE financing the sale of their homes because in most cases they can demand a nice down payment and accept nothing short of full asking price. Depending on how the deal is structured, all or part of each payment made is pure profit until the loan is paid in full.
Seller Financing is essentially the same thing as “lending money” to the person who is buying your property. In essence, you are becoming the bank when you finance the sale of your home this way.
When you finance the sale of a property that you own, you are not advancing any actual dollars to the borrower. Instead, you are simply granting the permanent use of your property and accepting payments for it over the course of several months or years in the future. These payments typically include principal & interest.
Seller financing can go by several different names and employ many different strategies. You can use a “Contract for Deed” (or Land Contract), “Installment Sales Contract”, “Lease Option Agreement” or a “Wrap-around Mortgage”. These forms of seller financing differ in the way they are used and in some cases whose name is on title. However, all can be interpreted as forms of seller financing.
Seller financing is an amazing tool because it allows you to do any/all of the following things with your home:
Here are some of the criteria to determine when Seller Financing makes sense in a particular scenario:
If one or two of these apply to you, then seller financing may just be the strategy you should use to Sell Your House FAST!
In conclusion, by offering seller financing you’re opening more doors for yourself in terms of your property selling quickly while also generating max profit on your investment. Seller financing also provides a way for families to obtain a nice new home that they otherwise wouldn’t be able to qualify for. (FYI – if someone doesn’t qualify for a loan, there is always a reason. Make sure to do your due diligence with respect to all buyers who request owner finance. If you need more info or happen to have any questions regarding owner financing you can give us a call at 844-388-APEX(2739))
Our focus is on helping homeowners reach their goal whether we buy their house or not.
We’re here to help.
– APEX Home Buyers