Are you a homeowner thinking about selling your house? Selling through a traditional real estate agent will give you access to some potential buyers, but if you want to expand your options, owner financing might be the way to go. If you’re asking yourself, “How do I sell my house owner financing in Luzerne County PA?”, keep reading to learn more.
When selling your house through a real estate agent, the buyers are usually individuals looking to obtain a mortgage from a bank. However, not all potential buyers are able to qualify for a mortgage, limiting the number of people who can purchase your house. Additionally, this process can take time as you wait to see if the buyer can obtain financing. If their financing falls through, you’ll be forced to keep showing your house to find another buyer.
To increase your chances of selling your house and expand your pool of potential buyers, consider selling your house through owner financing. With owner financing, the buyer purchases the house directly from you, without involving a bank. As the seller, you act as the bank and receive an upfront deposit and regular payments that pay off the total amount owing. In most cases, you’ll hold the title until the house is fully paid off, at which point the title will transfer to the buyer.
Selling with owner financing has several benefits. First, it opens up the number of potential buyers since you can now reach people who might not otherwise be able to obtain bank financing. This could include individuals with less-than-perfect credit or those who are self-employed. Second, it provides you with cash flow as the buyer will make regular payments to you, similar to mortgage payments to a bank. Third, you’ll have protection even if the buyer stops making payments since you’ll still own the house. Lastly, unlike owning a rental property, you won’t be responsible for property management as that will be the buyer’s responsibility.
If you’re wondering how to sell your house through owner financing, start by deciding how much you want to receive each month for your house. There are many different ways to sell your house, but selling through owner financing might be the right choice for you if you want more exposure to potential buyers, cash flow, and protection.
If you’re looking for an even faster way to sell your house through owner financing in Luzerne County PA, consider selling your house to a company that specializes in these types of deals. Some companies, like ours, work out owner-financing deals with sellers, allowing you to quickly and easily sell your house without the hassle of finding a buyer on your own. Simply fill out a form or call us today to learn more.
In conclusion, if you’re a homeowner looking to sell your house, don’t limit yourself to the traditional route of using a real estate agent. Selling through owner financing can open up many more potential buyers, provide you with cash flow, and offer protection. Consider this option and start exploring your options today.