Is Owner Financing A Good Idea For The Seller In Spokane

If you have been thinking about selling your home and you have been wondereing what options you have, maybe you have heard of this thing called “seller financing” also known as For Sale By Owner or (Owner Financing). Its surprising that many people have not heard of Owner Financing before. Its little-known but extremly effective was to sell your house to another person. Is owner financing a good idea for the seller in Spokane? That’s a great question and we’ll talk about it in this blog post…

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Here’s How Owner Financing Works

During a traditional home selling transaction, A buyer (most of the time doesnt have all the money for the house) goes to a bank and they put a large down payment and usually takes a 30 year loan. Over the course of the loan there will be 360 monthly mortgage payments until the borrowed amount is paid in full with intrest.

This is the popular method most people are familiar with buying and selling. But there is another way to sell your house that you might not be aware of, and it involves owner financing.

With owner financing, everything is similar except this one thing – you (the seller of the house) becomes the bank: the buyer pays a down payment to the seller and then makes regular payments with anual interest (just like mortgage payments) to the seller until the house is paid in full. Then the ownership of the house transfers to the buyer.

Many Sellers Are Wondering, Is Owner Financing A Good Idea For The Seller In Spokane

Many homeowners who want to sell find owner financing to be a great idea.

  • They like that there is no property management
  • They like that they have a larger group of potential buyers to sell to (including those who might not qualify for traditional bank financing)
  • They like that they still own the house and are protected, should the seller stop paying
  • They like that they get monthly cash flow from financing payments

Fantastic right? You get on going cash flow and protection, and you are still able to sell your house. Whether this is your primary residence that you’re looking to sell, or you are a landlord who is ready to start selling some of your rental property, owner financing might be a great option for you.

If you would like to spread out payments or to have more buyers trying to buy your house, owner financing might be a great option for you. If you are serious about selling your house and want to explore all of your options, take a closer look at owner financing And Our Company All American Home Repair 1776

With that said, owner financing is not for everyone. If you want to talk to one of our team about how owner financing might work for you, and what some of your other options are, call our team right now at 509-596-1182 or click here to fill out the form and we’ll get back to you ASAP

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