When Selling Your House on Terms Makes Sense
For most homeowners selling a house with owner financing is a scary thing; becoming the bank and even possibly keeping your existing debt on the house doesn’t sound appealing. We successfully work with homeowners like you all the time. We can show you why this might work for you and what your advantages are.
We believe, if you know your advantages, owner financing might work for you.
If you’re like most you’ve had your house for sale on the market for months only to find that many buyers don’t qualify for bank loans. Maybe your house has been under contract and terminated for just that reason. If your house is priced at a fair market value and not sold, that is, more than likely, the reason.
Enter owner financing…did you know that there are 10X more potential buyers for your home when offering to sell with terms. The doors of opportunity will open your front door to buyers. And we’re talking “qualified” buyers, who are thoroughly screened. We choose to buy on terms, so we can sell on terms. We have qualified buyers just waiting for houses like yours.
Typically, these are buyers are self-employed, or are good people who maybe had a ding on their credit but have moved forward in their life. As renters, they have proven track records of on time payments taking care of a house and have qualifying debt-to-income ratios.
Offering terms on the sale of your house is simply a way to get a full market price but with a short term delay in your full payout. Most terms are amortized over a longer period to keep payments reasonable but are contracted for a full payoff in 5 years or less. These are short term arrangements.
We have terms programs to work with you if your house is owned free & clear or if you have an existing mortgage still in place. Even if you have little or no equity, or are behind on your payments we can work with you.
Either way, your advantages of seller financing to us might include:
- Realizing a full market value price;
- A quick sale;
- You sell your house “as- is”, no appraisals, no home inspections to beat you up;
- You pay no commissions or closing costs, which means much more $$ in your pocket;
- A deed of trust secures your ability to take back the house if obligations are not met;
- All insurance, taxes, repairs and maintenance of the property becomes our responsibility;
- You receive documents (from an attorney and recorded in public record) that are evidence of your financial agreement, in other words, your debt-income ratio is covered, if you need to qualify to buy additional property;
- Taking your equity over time can have definite tax advantages.
Let us work with you in buying your house for a fair market price and you get to move on. No worries. Call today, at 361-695-1943. Talk with one of our assistants who will gather some preliminary information and then one of our partners will call to discuss your options.
Submit our easy form or call today 361-695-1943