Owner financing available! You may have seen this advertised, but what does it mean. While you still hold ownership, you can use owner financing to sell your house and gain a great deal of profit on your investment. There is commonly a time limit on the loan to allow the buyers time to straighten out their credit issues over a two or three-year period. Should your buyer default, they would have to relinquish their rights to the home. Sellers can make several creative financing arrangements to suit the needs of the buyers, as well as your own. It is advisable to seek legal counsel to ensure that the contract protects both yourself and the buyer in the transaction. While you may be financing the entire loan for some buyers, others may find they qualify for a conventional mortgage but still fall short of the required downpayment to get into your property. Therefore you could finance only a portion of the transaction. To learn more about providing this opportunity to buyers, we will discuss five benefits of using owner financing to sell your house in Greater Cincinnati.
One of the benefits of using owner financing to sell your property in Greater Cincinnati is that you are sure to get your asking price as if you set it in stone. You hold the advantage. The borrowers are willing to pay extra for the opportunity to enjoy the benefits that homeownership brings. If housing prices drop, you benefit from selling at a profit and gain the interest earned during the life of the loan. If housing prices rise, the buyer may achieve an increase in equity when they refinance the property.
Current Cash Flow
The monthly payments towards interest on the loan will add cash monthly to your regular income, which is an attractive benefit of using owner financing to sell your house in Greater Cincinnati. And the return on your investment is typically higher than with most fixed-income investments. As the downpayment is negotiable, you’ll receive an extra cash boost when the buyers close. You can even negotiate periodic payments to help the buyers meet your demand for the downpayment of up to 20 percent or more over time.
One of the benefits of using owner financing to sell your house in Greater Cincinnati is that you can skip all of the red tape associated with traditional mortgages. This speedy process means your home will sell and close fast, which is a plus to buyers who are excited to make a move from renting to homeownership right now. The ability to close in 30 days or less may even make your home stand out among many to a buyer with an urgent need to move.
By offering seller financing, you open the ability to purchase to a whole new market. Having more potential buyers for your property is an excellent benefit of using owner financing to sell your home in Greater Cincinnati. As buyers are entering the market, all too many may now find themselves with less than perfect credit. This status prevents them from financing a new home through conventional lenders as they are unable to meet the stringent qualifications for loan approval. This underserved sector of potential homebuyers is where you can step in as a home seller and offer a beneficial solution to you and the buyer.
We Buy NKY Houses fully understands the benefits of using owner financing to sell your house in Greater Cincinnati. If you would like to learn more, We Buy NKY Houses is happy to answer any questions or concerns you may have, with absolutely no obligation. Call We Buy NKY Houses at (859) 412-1940 or send us a message today!
We Buy NKY Houses Is Your Trusted Guide in Selling Your House
There are several ways of selling your house now because of the changes in the economy. Homeowners have now discovered that they no longer have to sell through an agent. You can now sell your own house through owner financing. If you are new to this you would probably have questions such as: Is owner financing a good idea for the seller? How much do you have to put down for seller financing? How do you structure a seller financing deal? How do you negotiate owner financing? Then give us a call! When you call our hotline, you’ll be connected with our real estate expert who will listen to the specifics of your situation before making recommendations and answering any questions you have.
Choose what’s best for you! The professional hybrid agent investors at We Buy NKY Houses can offer you BOTH options. At We Buy NKY Houses, we will run the numbers and go through everything in detail. Our goal at We Buy NKY Houses is to inform you of every step of the process with complete transparency. We Buy NKY Houses our job is to make sure you feel confident in your decision when selling your house in Greater Cincinnati. Contact We Buy NKY Houses at (859) 412-1940 today