5 Benefits of Using Owner Financing to Sell Your House in Philadelphia

Owner Financing to Sell Your House in Philadelphia

Owner financing is available! You may have seen this advertised, but what does it mean? While you still hold ownership, you can sell your property through owner financing and gain a great deal of profit on your investment. There is a time limit on the loan to allow the buyers time to straighten out their credit issues over two or three-year periods. Should your buyer default, they would have to relinquish their rights to the home. Sellers can make several creative financing arrangements to suit the buyers’ needs and your own. It is advisable to seek legal counsel to ensure that the contract protects you and the buyer in the transaction. While you may be financing the entire loan for some buyers, others may find they qualify for a conventional mortgage but still fall short of the required downpayment to get into your property. Therefore, you could finance only a portion of the transaction. To learn more about providing this opportunity to buyers, we will discuss the five benefits of using owner financing to sell your house in Philadelphia.

Non-Negotiable Price 

One of the benefits of using owner financing to sell your house in Philly is that you can get your asking price as if you set it in stone. You hold the advantage. The borrowers are willing to pay extra for the opportunity to enjoy the benefits that homeownership brings. If housing prices drop, you benefit from selling property at a profit and gain the interest earned during the life of the loan. If housing prices rise, buyers may increase equity when refinancing the property.

Current Cash Flow

The monthly payments towards interest on the loan will add cash to your regular income, which is an attractive benefit of using owner financing when selling property. And the return on your investment is typically higher than most fixed-income investments. In addition, as the down payment is negotiable, you’ll receive an extra cash boost when the buyers close. You can even negotiate regular prices to help the buyers meet your demand for the down payment of up to 20 percent or more over time.

Quick Closing

One of the benefits of using owner financing to sell your property in Pennsylvania is that you can skip all of the red tape associated with traditional mortgages. This speedy process means you’ll have the capability to sell house fast, which is a plus for buyers who are excited to move from a rental property to homeownership right now. The ability to close in 30 days or less may make your home stand out among many to a buyer with an urgent need to move.

Buyer Pool

Offering seller financing opens the ability to purchase to a whole new market. Having more potential buyers for your property is an excellent benefit of using owner financing to sell your home in Philly. Unfortunately, too many may find less than perfect credit as buyers enter the market. This status prevents them from financing a new home through conventional lenders as they cannot meet the stringent qualifications for loan approval. This underserved sector of potential home buyers is where you can step in as a home seller and offer a beneficial solution to you and the buyer. 

Buying Property 215 fully understands the benefits of using owner financing when selling your house in Pennsylvania. If you would like to learn more, [Buying Property 215] is happy to answer any questions or concerns you may have, with absolutely no obligation. Call us at [215-359-6090] or send us a message today!

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