Why Is It Smart To Use A Seller Financed Mortgage To Sell Your Home?
Do you want to sell your home quickly and want to get the most money possible for it
? Then it is essential for you to know why you would be smart to use a seller financed mortgage for selling your home.
There are a number of reasons that you need to learn about so you can really see how you will benefit from using this for getting your own home sold. The following are the reasons you need to keep in your head as you decide whether to use this to sell your home or whether to go with another option.
One: You act as the bank - With this type of option for selling your home, you will act like the bank and loan the buyer the money to purchase your home. Now this does not mean that you are actually going to give them the money to pay for your home, but it does mean that you are creating an IOU with the help of an attorney to lay out the conditions for the payment schedule the buyer must stick to.
This is going to include the monthly payment, the loan length and the loans interest rate. This is gong to be a win-win situation for the buyer and you.
The buyer likely could not have purchased the property without your financing and you will be able to get top dollar for your property.
Once this transaction has been done, you may not want the hassle of collecting the money each month.
You can easily get a lump sum of money by selling your note to a note buyer that will provide you the cash you need at a discounted price. This leaves the note buyer responsible for the monthly payment collections and you free to use the lump sum of money you received for selling it to them.
Two: You will get premium offers on your property - There are a lot of people that want to purchase a house these days, but do not want to go through a bank to do it. Using this selling option is going to open up your home to many buyers so you can get premium offers for it.
Three: Close the sale in a short time period - This selling option is the best one to use for any person that needs to sell their home quickly. The hassling and bargaining over cost will be taken out of the equation and this is going to speed up the process of getting your home sold to the right buyer.
These are the most imperative reasons why it is smart for anyone to use a seller financed mortgage to sell your home. You have to be the person that decides if this is the option you are going to go with to get your home sold or if you are going to take another route that may not get you as much money or get your home sold as quickly.