A Financial Solution for Sellers
Posted March 25, 2009 – 4:25 pm in: Finance, Real Estate
If you really want to sell your house, you can try seller financing or real estate notes and avoid lowering your price. There are thousands of people who cannot get financing for one reason or another. Real estate agents and sellers can minimize the time invested in getting a property sold by using seller financing.
Most home sellers do not realize the benefits of considering financing the buyer directly. The reason is that they usually do not understand how creating a note works. There are three main advantages to seller financing.
When there are several similar homes or when the market is slow, seller financing can be extremely powerful. Sellers can make their home stand out and attract more buyers by simply listing it as “Owner Will Carry”. This makes a home very attractive to those individuals who cannot get financing through a bank. This advantage makes seller financing attractive by attracting more buyers.
Another advantage is the possibility of selling for a higher price. Offering OWC not only increases the number of potential buyers, but also attracts those who are willing to pay more for the property. Most of these people are usually investors who are looking for cash flow notes.
When you sell real estate notes, you are acting as the bank. That means you get to choose the amount of interest that is paid and if the seller keeps the note, you could get thousands of dollars in additional income over the cost of the home.
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