With Colorado being one of the Western states where existing home sales are down 7%, more than twice what it is in other areas, we felt it important to discuss how seller financing may make the difference between a sale and a flop.
Seller financing is the art of making one particular property stand out from the rest, simply by the fact is easier for a cash and/or credit challenged borrower to buy it, by offering to carry all or a part of the transaction amount.
The advantages to seller financing are numerous, such as:
- A tremendous increase in the prospective buying pool due to the availability of purchasing options, which has the potential of decreasing time on market.
- Buyers are less likely to negotiate price when terms are so juicy, allowing the seller to maximize their net proceeds
- With a robust, established secondary market in place, the seller can choose to sell the note to an investor. This usually involves selling it at a discount so there's meat on the bone for an investor, but you, the savvy seller planned for the discount upfront and you're now done with it.
- And more!
Seller financing can be used in conjunction with some primary mortgages, structured separately as a land contract, a lease option and...
Would you like to know more about seller financing and how the professionals at RealEstateSuper!Markets.com can help? Just complete the details below and one of us will be in touch faster than a speeding bullet!(form 'sell-my-property' not found)