Houston Owner Finance Homes

How to Sell Your House Quickly With Owner Financing – Part 1 – Overview

Selling a house in 2010 is going to be more difficult than ever in most markets.

How can a seller still get a fair price for their home and make sure there is a strong buyer demand for it?

The answer is simple–use Owner Financing!

Remember there are three ways that buyers can purchase a home:
1–their own cash
2–others cash (i.e. new loan from a bank or mortgage company) or
3–seller financing.

The first two are easily understand by sellers and buyers.

Seller or Owner financing is not.

How does it work?

Instead of a buyer going to a 3rd party bank or mortgage company for a new loan, the buyer simply asks the owner to seller finance.

This means the seller gives the buyer the deed to the home in exchange for a cash down payment and in “IOU” or “promissory note secured by a mortgage.

After the sale, the seller enjoy both their net cash and monthly payments.

The buyer owns the home and like any other form of financing, makes monthly payments until they have paid off their mortgage.

Doesn’t that sound easy? It is although it requires certain knowledge and assistance to both sellers and buyers in the form of Realtors, Attorneys, Title and Escrow Co and a Servicing business to help successfully close these type of deals.

For 2010 and beyond, since it has gotten more difficult to buy/sell homes, consider Owner Financing as one of three tools for creating Win/Win solutions.

Tobias J Preston, President of McKinley Mortgage Co
The Quickest Easiest and Most Trust Way to Convert your Mortgage Notes and Real Estate Equity to Cash….a leader since 1989.