Do you have a house and are thinking about selling it? If you choose to sell the usual way, through an agent, you’ll get the chance to reach SOME buyers. However, if you’ve seen some of our blog posts and are now asking yourself this question, “how do I sell my house owner financing in Paducah and Surrounding Areas KY” then you’re making a smart move that will give you access to many more buyers! Keep reading to find out how…
Introduction to “Sell My House Owner Financing In Paducah and Surrounding Areas KY“
When a homeowner sells their home the traditional way (through an agent), the buyers are typically your normal regular buyers who are trying to get a mortgage to buy a house that they will live in which the homeowner has spent countless dollars fixing up in the hopes of selling to the right customer. And in those cases there’s nothing wrong with that, and in some markets, there are a lot of these kind of buyers. But in other markets there aren’t as many. And real estate agents typically work with these kind of “pre-qualified” buyers who can get a mortgage through a bank.
However, this method of selling has seen its share of problems. For instance, sometimes you have to wait to find out if a buyer can actually get an approval for a loan to buy your house (and sometimes their loan falls through, so you’re back to square one and you have to keep showing your house to find a new buyer).
Imagine this, you want a better chance of selling your house and want more people to be able to buy it. Well, here’s a secret strategy you might not know about: sell your house using owner financing. It means you sell your house on your own, without an agent, and without a bank being too involved.
Owner financing is when a buyer skips the bank and buys directly from you. In other words, you get to play banker! And just like a bank, you get an up-front deposit and then you get regular payments that pay off the amount owing. And in most cases, you still hold the title until the house is fully paid off, and then the title transfers from you to the buyer.
Benefits of selling with owner financing
- It helps you find more buyers because you can now reach different kinds of people who can’t usually get a loan from the bank.
- You get regular payments from the buyer, which, like a mortgage, gives you money in your pocket that is coming in regularly.
- You still own the house even if the buyer stops paying, so it’s a safe way to sell.
- You don’t have to worry about managing the property because the buyer takes care of that.
What’s next…
Wondering, “how do I sell my house owner financing in Paducah and Surrounding Areas KY”? Start by deciding how much you’d like to get each month for your house.
There are several ways to sell your house, and in this blog post, we’ve talked about selling with owner financing. It might not be the best choice for everyone, but if you want to reach more buyers, have some regular income, and keep your house safe, then selling with owner financing could be a good option for you.