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Step 1
Sell your house with owner financing
If you own the property outright and have no mortgage payment offer to hold the mortgage for a year. You will be able to charge an interest rate giving you more for your property while supplying a cash flow for you every month.
Many home buyers today are having a hard time qualifying for a traditional mortgage. By offering owner financing you will have a larger pool of buyers interested in your property. -
Step 2
Sell your house subject to your existing mortgage.
If you do have a mortgage payment you can sell your property subject to that existing mortgage. You continue to hold the mortgage in your name and the title gets transferred to the buyers name.
They make the mortgage payment every month to an escrow account which pays the mortgage.
You can offer this for a set time (maybe 3 years) at which time the buyer will be responsible to get their own financing. -
Step 3
Sell your house rent to own
This is an option that is very appealing to many home buyers. It allows home buyers time to rebuild their credit in an effort to obtain a mortgage. This option also provides you with the finances needed each month to pay the mortgage payment.
All of these methods are strategies used by seasoned Real Estate Investors. These strategies are called creative financing options and they work!! Because not all people that are looking for a house can get traditional financing your property will sell faster when the buyer is presented with alternative financing options.
Please check with a real estate professional before you make any real estate transaction.











Comments
luv2laugh said
on 2/11/2009 Timely article and good advice.