Seller financing is becoming more and more popular! It’s simple and effective so you can use it to sell your house quickly and make extra money without the headaches of renting it! Here are four reasons you should consider selling your house using seller financing today.
You’ll Get The Price You Want
Selling your house using seller financing can get you the price you want for your property.
Take working with a local home buyer like Pitt Home Buyers for example. Most often, their offers are cash which means that they’re going to expect a discounted price since they’re putting a lot of their money at risk.
But if you’re willing to take payments over a certain period of time, it’s far more likely that you can get the price you want!
You Become The Bank
I’m sure you’ve heard that successful people like to “be the bank”. But how does that work?
Simply said, a bank borrows money from you and lends it to someone else. They pay you a little bit of interest for your savings, lend it out, and charge more interest.
That means they make money off of the spread, and that money stacks up!
When you take control and finance the house yourself you’re able to make the money the bank does but at a much higher interest rate!
That means you can collect payments every month while earning upwards of 6% on your money!
Contact your local home buyer today to learn more about how you can cash flow like a bank without the headache of managing a rental property!
Closing Is Fast
Closing on a property that’s being owner financed can be just as fast as a cash sale. This means that you can close in as little as 7 days!
There are specific documents you’re going to need the closing attorney to write up, including a promissory note and deed of trust.
If you’re working with a local home buyer, like Pitt Home Buyers, be sure to ask for example documents so you can familiarize yourself with them and understand how they work.
Sell Even If You Have A Mortgage
If you still owe money on the house you need to sell fast, you can still reap the benefits of seller financing while keeping that mortgage in place!
What that means is that your local home buyer will take over your mortgage payments and property expenses related to that property while paying you monthly payments for your portion of the equity!
Keep in mind that the only time a home buyer like Pitt Home Buyers will do this with a Greenville NC property is when it creates a win-win opportunity for all of the parties involved.
If anyone feels like the deal is weighted heavily in the other parties’ favor, it’s not a deal a respectable home buyer will do.
Period.
If you’re working with someone who you feel is pressuring you into a deal, run as fast as you can.
If possible, hold off on selling your home for a couple of weeks so you can clear your head. Then hit the grindstone once again!
Seller financing is a fantastic opportunity to make money from your house without the headaches of renting it. It’s also a great way to stop foreclosure and save your credit! Contact us today to learn more!