RSS

Using Owner Financing to Turn the Tide on a House that’s not Selling

Fri, Oct 23, 2009

Blog Categories, Financing
























Question:  "I am trying to sell three houses for cash.  But I’m also looking into selling it on owner financing or put it on a lease option.  I know that if I lower the cash price, I would be able to get rid of the property but I’ll just end up breaking even. Can you help me with that?"

 

 

Answer:  "Make sure is that you make the owner finance offer to your buyers.  Don’t make them tell you what their owner finance offer is. You should be the one to lead.  You can actually raise your sales price a little. 

 

Remember -  you should be the one to put the owner finance offer together. 

 

Figure out a great way to advertise your offer, like getting some good pictures on an advertisement on craiglist.com.

 

You should include in your owner financed offer the price and let them know that your terms are flexible so that you can get a lot of positive responses.

 

Specifically, I encourage you to get at least 3% down payment for the lease of option to buy.  But if you are looking into contract of deed, you should at lest ask 10% down." 

 

, ,

This post was written by:

Scott Nachatilo - who has written 93 posts on Financially Free Real Estate Investor.


Contact the author

Leave a Reply