This Gardnerville home seller gets it. He listed For Sale By Owner (FSBO) on Craigslist and is offering owner seller financing. If he sells for his listing price of $645,000 and ‘carries the paper’ like he’s offering to do, he’ll make over $1,100,000.
Of course most people want cash, and that’s perfect, and we can bring it to the table, AND…
- Do you think you owe more than your property is worth?
- Are you having trouble making your mortgage payments?
- Will you have to write a big check to the IRS for capital gains?
- Do you need all cash, or could you use secure monthly income?
- If you get all cash, what will you do with it? Can you make more than 5%?
- Is your property not selling as fast as you thought it would?
- Are you ready to give up and just rent it out?
- Do you really want to be a landlord?
- Would hassle free mailbox money make your life easier?
- Most people don’t know there are safe, legal ways to GET MORE MONEY.
If this ‘Owner Will Carry’ seller in Gardnerville changes his mind and decides he just wants cash, my guess is he may have to drop his sale price by as much as $100,000 so it is affording to a buyer who has to be able to afford a bank loan. His offer of 5% long term financing beats the banks who are at 7%.
That ‘below-market’ seller financing rate will allow him to get as much as $100K more for his house.
Sellers can ‘become the bank’ and lend their equity to a prospective buyer.
Taking the payment for your house month by month may not be right for you at this time, but it’s an important thing to keep in the back of your mind so you have options… you never know when you, or someone you know, will need it.