Offering owner financing is an excellent way to sell your house for the price you want, all while making money off of the interest. Learn more in this post!
Utilizing owner financing or a rent-to-own agreement is an excellent way for investors and homeowners who want to sell a house quickly and for the price they want. While the home won’t be sold outright until the end of the agreement, it can be a way to increase what you’re making each month, while almost guaranteeing a sale on a pre-determined date. Many people don’t consider this option when selling their Homeland house. However, if you don’t need the entirety of your proceeds upfront, selling your house in Homeland with a rent to own agreement may be right for you!
This method works well because it is very rare these days for buyers to meet face-to-face with real estate agents and brokers. As we all know, there was a time when someone would contact their broker and they would then begin advertising the property and putting together showings for interested viewers. This may still happen in some areas where people go about their lives as usual. But now days most people find out about houses online through search engines such as Google or Yahoo! To find out more information, they may look at the listing on a real estate web site such as Realtor.com or Zillow.com. Sellers do not have to pay for these listings and that is another example of how technology makes it easier for someone to buy your house online.
Create Consistent Income
By offering owner financing, you’ll be able to bring in a consistent income each month, with a lower risk of a late or missed payment. Your tenants are invested in the property and are much less likely to default on their payments when they know they are in it to eventually own the home outright. In most cases, you aren’t going to have to worry about any vacancy during the life up the agreement. A savvy investor may be able to facilitate a few of these agreements on multiple properties, thus producing a very strong, somewhat passive, income for themselves.
Get The Price You Want
People who are taking advantage of your owner financing offer are going to have less room to negotiate for a lower price. In many cases, they are eager to buy, especially if they haven’t been able to in the past. As such, you will likely be able to find someone who will pay you exactly what you want for the house, even if it does take a little bit of time to collect 100% of your proceeds.
Collect More Each Month
In addition to getting the overall price you would like to receive for the property, your tenant will also likely pay you a higher than average “rent” payment each month until the agreement has completed and they buy the house outright. In some cases, a percentage of the monthly payment will go toward the down payment on the house, owners can still find themselves collecting a higher than average check each month.
Peace Of Mind
When you consider offering owner financing to prospective buyers, you’ll get the peace of mind in knowing that the people moving in are going to take care of the home. If they trash it, miss a payment, or otherwise violate the agreement, they could be out a hefty down payment along with their opportunity to purchase your home.
Offering owner financing for your house in Homeland may feel risky, however it is how investors and homeowners all over the country are able to create consistent income while selling a house they’d rather not hold onto for the long term. Our team is happy to answer all of your questions and help you facilitate the process!