Help Sell My Home Fast: Should I Sell My House and Carry the Contract?
In slow markets, when homes just don’t seem to move as quickly as we’d like them to, offering seller financing may be the key to getting a home sold.
With the sluggish real estate market of the last few years, seller financing has been dramatically increasing in popularity, but is it a smart move for you?
If you just can’t bear to let your home go for a fraction of what you paid for it, or you really need to sell quickly, then it may be a great option for you. Offering to carry the contract makes it easier for interested buyers who simply can’t get a home loan in today’s tough lending environment. Owner financing could help you avoid the nasty consequences of a foreclosure or allow you to trade up and take advantage of a great deal on a better home while prices are low, without juggling two mortgage payments.
Offering any form of seller financing can instantly make your home more attractive and stand out in the sea of properties on the market. It can also allow you to set a far higher price than you could get if you sold it to a cash buyer today. Just make sure you are aware of all your options and how badly it could turn out if things go wrong.