Using a seller finance agreement can be a great solution to selling for both the buyer and the seller. There is a basic type of seller finance agreements in Texas, an agreement to buy. Just as it sounds, with an agreement to buy, the buyer must follow through with the contract. Because you hold the property with a lien, you also hold the cards in the negotiations. Ready to learn more? Read on to find out about these five perks of using a seller finance to sell your house in South Texas area
Different Sector of Buyers
While competition is fierce for buyers on the MLS, buyers who may not quite fit the bill for the traditional loan are just waiting for a chance at attaining homeownership. Because of their inability to qualify for conventional loans, and opportunities are limited in this market sector, owner finance properties rarely sit for very long. Due to low supply and high demand, seller finance is a seller’s market, which is a great perk of using a that agreement to sell your house in South Texas area
A quick sale is a money-saving perk of using a seller finance agreement to sell your house in South Texas area. While you still maintain ownership of the property, you won’t need to be concerned about paying holding costs, waiting for the right buyer to come along on the traditional market. Because you’re the financier, you won’t have to wait for all of the processes that gobble up time with conventional loans.
Collect a “Down Payment”
A sizeable down payment to secure the deal is an excellent financial boost and a perk of using a seller finance agreement to sell your house in South Texas area. The best part of all, should your option buyers walk away or your agreement buyers fail to gain financing in due time, you keep all of the monies you’ve collected over the term of the agreement, including the large down payment.
Confidence in Your Tenants
Because your buyers have placed so much money into the property, you can rest assured they won’t walk away without good reason before the contract ends. Additionally, as they are the new owners, the buyers are responsible for the maintenance and repairs. This peace of mind is a nice perk of using a seller finance agreement to sell your house in South Texas area.
Get Market Value +
Holding the cards means you set the rules of the game. When it comes to seller finance contracts, you’re, in essence, keeping your home off of the market for a specific period. Making an educated estimate of the home’s value may be when the contract ends, you can set the sale price at a higher value than the current market. Additionally, you can charge a higher than average interest rate. This immediate gain in value is another perk of using a seller finance agreement to sell your house in South Texas area. On the other side of the coin, if the market value drops, you avoid an equity loss.
Call Rescue Real Estate Help to discuss these and many more perks of using a seller finance agreement to sell your house in South Texas area. Rescue Real Estate Help makes the process easy and can help you with every step! Send us a message or call 830 444-0103 today!