One of the best ways to sell a home a little faster and for a little more money is to offer the home with seller financed homes. Seller financing is not for everyone so you’ll need a bigger net to catch the potential buyers for whom it is intended people with good income, a solid work history, at least 20 percent of the purchase price in cash, but who can’t get a mortgage right now, he said.
If you feel confident that your current home will be sold in a particular time period, for example, within three years, and you have sufficient funds for a down-payment, then many buyers choose to find a home with a seller willing to do owner financing houses for, in this case, a three year term with the bulk of the funds due at the end of the three years.
The bigger the deposit the less likely they will leave the house when a problem comes up (as they have more invested in the property and don’t want to lose it) and also in the case that they do leave and you are left with the property, then you can legally keep their deposit. While legitimate, owner financed deals are very uncommon area because the seller must completely own the property (a lot of turnover and therefore mortgages in the market) and also few sellers are interested in collecting mortgage payments for many years (though there are programs to help manage collecting the mortgage and make it less painful than it sounds).
Therefore, we make it clear to our clients that should they allow their buyer to buy their home with seller financing, the only recourse they owner financing homes will have against that buyer, if that buyer defaults on paying back the loan, is the return of their home through the foreclosure process. For more information, please visit our site http://anyhomeownerfinancing.com/