When a property isn’t selling most real estate agents are quick to suggest a reduction to the sales price. It is common to see the tag line “Price Reduced” added to for sale signs, listings and ads. Rather than just reducing price…consider offering Seller Financing to sell a property quickly! |
In today’s real estate market obtaining a mortgage can be a large stumbling block to home ownership. Banks are requiring more in down payments, higher credit scores and charging higher interest rates. In addition. many banks are not even considering lower valued loans.
So, what do you do when the banks are making it difficult for borrowers to qualify and forcing you to reduce your sales price. While there are many reduced priced properties for sale few are offering a solution to the financing challenges. By offering Seller Financing the seller can reduce marketing time and maximize price while providing the buyer an economical alternative to bank loans.
The buyer makes a down payment, and the seller accepts payments over time from the buyer. In essence the seller becomes the bank and can collect interest on the balance financed at the agreed upon rate.
Summary
Offering Seller Financing can be a very effective way to reduce the time to sell, provided the property is priced at fair market value using comparable sales. Simply add the words “Owner Will Finance” to the advertising and watch the inquiries increase.
Connect with Peak NotesWhy not set up a meeting with a Peak Notes specialist to discuss the Note selling process. Meetings are brief, cost nothing and can give you more insight into how you can maximize your investment potential! If your property is located in Florida, please click on this link and set up a meeting with John Meeting with John If your property is located outside of Florida, please click on this link and set up a meeting with Karen. Meeting with Karen |