Own a house and thinking of selling? The traditional method of employing an agent will definitely provide you access to some buyers, but if you want to open up access to even more buyers in Seattle WA, consider using owner financing to make the sale! Find out how in this article…
“Sell My House Owner Financing In Seattle WA” Introduction
Real estate agents tend to bring in “regular” buyers who need to secure a mortgage to buy the house they’ll be living in. Some markets have robust amounts of buyers in this category, but not all are the same. And of course, the agents only want to work with pre-qualified buyers who can get access to credit – they don’t typically bother with those who cannot.
As you can imagine, there are problems with this approach – sometimes you have to wait a while to see if the buyer can get the financing needed, and even then, there’s the chance it falls through and you have to keep listing your home.
So how can you avoid this and increase the buyer pool for your home? The answer is: sell your house with owner financing.
Simply put, owner financing is when the buyer skips the bank and buys directly from you. You act as the bank! The buyer gives you an up-front deposit and makes regular payments to you that pay down the amount owed – simple as that! You hang on to the title in most instances until it’s fully paid off, then title transfers to the buyer.
Benefits of selling with owner financing
- You can access a new pool of buyers who wouldn’t normally be able to secure bank financing.
- You receive cash flow in the form of the monthly payments form the buyer (same as they would have paid to the bank).
- Since you still have title, you’re protected in case the buyer stops paying!
- Unlike a rental property, there are no property management headaches because the buyer has “bought” the home and is responsible for it, just like if they went through the bank.
Wondering, “how can I sell my house owner financing in Seattle WA”? Begin by figuring out how much you want to get paid every month for your home.
This article covered the basics of owner financing for selling your home. It’s not for everyone but if you want a greater range of buyers, plus cash flow and protection, then owner financing may be the best bet for you.