We Buy houses in Eagan MN. Do you own a house that you are thinking about selling? If so, selling the traditional way (through an agent) will give you access to a few buyers. However, if you’re asking, “how do I sell my house through owner financing in Eagan MN” then you’re choosing a much smarter sale option that will give you access to many more buyers! Keep reading to find out how…
Introduction to “Sell My House Through Owner Financing In Eagan MN“
When a homeowner sells their house the traditional way (through an agent), the buyers they advertise to will typically be regular buyers. Regular buyers are people that will apply for a mortgage, and use that loan as their source of funding when they buy a house. Usually, these types of buyers will have good credit; they may also be supporting families, and need to buy a house to live in. In some markets, there are a lot of these kinds of buyers. In other markets, there aren’t as many. Additionally, real estate agents typically work with these kind of “pre-qualified” buyers who can get a mortgage through a bank.
Problems with selling to Regular Buyers
However, this method of selling is not without its problems. In most cases, you’ll have to wait and see if a buyer can even get financing (which could take 3-6 months). Other times, their financing can fall through, which will force you to keep showing your house and find another buyer.
If you want to increase the likelihood that you’ll sell your house, and expand your buyer base, here’s a little-known strategy you might not be aware of: sell your house with owner financing.
Benefits of selling with owner financing
Owner financing is when a buyer skips the bank and buys directly from you. In essence, you’re the bank! Just like a bank, you’ll get an up-front deposit and then you’ll get regular payments that pay off the amount owed. In most cases, you’ll also hold onto the title until the house is fully paid off, and then transfer the title to your buyer.
- It opens up the number of buyer: with owner financing, you’ll be able to find buyers who might not normally have been able to get bank financing.
- It gives you consistent cash flow: your buyer will need to pay regular payments to you (just as they would need to pay regular mortgage payments to the bank).
- It protects you: even if the buyer stops paying, you still own the house!
- There isn’t a lot of property management: unlike rentals, the property will be maintained by your buyer since they will eventually be purchasing it outright.
Are you wondering, “how do I sell my house through owner financing in Eagan MN”? Start by deciding how much you’d like to get each month for your house.
There are many different ways to sell your house. In this blog post, we’ve shared with you how to sell with owner financing. Selling with owner financing isn’t for everyone, but if you want more exposure to buyers, and greater cash flow, then selling with owner financing might be right for you.