Do you currently own a home and are considering selling it? Traditional sales through a real estate agent will give you access to some buyers but not all. If you are asking “how do I sell my house owner financing in Spokane Wa” then you are making an extremly smart move that will give you access to all the other buyers out there. Lets dive deep in this article!
A Simple Introduction to “Sell My House Owner Financing In Spokane Wa”
Selling a home the tradtional way through an agent will give you access to many buyers who may be able to purchase the house using a loan through a bank. The buyers are individuals who are trying to get a mortgage to purchase the house to live in. There are a lot of buyers out there like this in some markets but in other markets there are not as many. The Real Estate Agents typically work with “pre-qualified” buyers who have the ability to get a mortgage with a bank.
However, this method of selling can have problems. For example, sometimes you have to wait to see if a buyer can even get financing (and sometimes the financing falls through so you may have to be forced to keep showing your house to find another buyer).
To increase the odds that you will sell your house and expand the range of possible buyers who can close title on time, here is a little known strategy many home owners dont know about! Selling a house with owner financing.
Owner financing is when a buyer skips the bank and buys directly from you. In essence, you’re the bank! Just like a bank, you get an up-front deposit and then you get regular payments that pay off the amount owing. In most cases, you hold the title until the house is fully paid off, and then the title transfers to the buyer.
Here Are Some Benefits of selling with owner financing
- It protects you because even if the buyer stops paying, you still own the house!
- It gives you cash flow, since they buyer will need to pay regular payments to you (just as they would need to pay regular mortgage payments to the bank).
- It opens up the number of buyers because now you’ll be able to find buyers who might not normally be able to get bank financing.
- And unlike owning a rental, there isn’t a lot of property management since that will be the responsibility of the buyer.
So What Is next…
Wondering, “how do I sell my house owner financing in Spokane Wa”? Start by deciding how much you would like to get each month for your house.
There are many different ways to sell your house and here we just shared with you how to sell with owner financing. Selling with owner financing is not for everyone but if you want more exposure to buyers, plus plenty of protection, plus some cash flow, then selling with owner financing might be right for you.