subject: Should You Consider Owner Financing When Selling Your Home? [print this page] It is not hard to explain when people ask me how to sell my home, because I've done it so many times. That makes the process easy for me now, but I can remember when it was very intimidating at first. If you are thinking about selling your house and not exactly sure what to do, hopefully this article will help point you in the right direction. That is my intention in writing it.
Sellers who are in a position to carry a note, or offer owner financing on their property have an advantage in the present market. There are a lot of good people whose personal finances have suffered in the last few years, but they have jobs and a solid history of making house payments or paying rent on time. They often need a place to live and so they are looking for sellers who want to offer seller financing for their own purposes. Sellers who do not need the cash immediately are the ones who may consider owner financing, since it offers them long-term instead of short-term rewards.
Personally, whenever I start thinking about how to sell my home, I consider selling it with owner financing if I meet some good buyers that seem well-suited to the property. In some cases I lease the home to them first, and then, after they show a solid history of paying their rent on time, we sign a purchase agreement and their status as renters changes to buyers. That is a good day for everyone involved.
But many times I just want to get all my equity in a property as cash at closing, so owner financing is not a good option. That may be the case for you and the sale of your present home. If so, then you will probably be thinking about listing your home with a real estate agent. I often list with agents myself, and have good working relationships with many. There is one requirement I make sure to stress whenever I start working with a new agent, and that is my ability to sell my home myself.
I realize that you might not have the slightest interest in selling a home yourself, but at the very least I suggest you make the decision to participate in marketing your home online. Posting classified ads online is generally free, easy and very effective. Online classifieds are my number one source of leads for selling my home, and you need to consider them whenever you are wondering "how to sell my home."
