
Selling a Home By Owner??
Offering owner financing is an excellent way to expedite a sale of property, and it allows you to create a note with terms to satisfy everyone.
Preferred Financials purchases or facilitates the sale of notes at a discount from those who are receiving
payments and wish to get all cash.
Yes, you can receive a lump sum of cash for your note, instead of small payments over time? You can sell the whole note in order to raise immediate cash. If you prefer to keep ownership interest in the note, you can sell a select amount of payments and you would retain the remaining payments.
If you have not created a note as of yet, here are some options to consider that would make a note sale easier. These options can make your note a more valuable asset, so that if you decide to liquidate ,
you could receive a better price.
Here are some options that work, the home buyer must have at least 10 – 15% down with an interest rate around 7 -- 9%; a short term note, as 10 – 15 years, or amortized over 30 years with a balloon payment in 5 to 7 years; buyers credit score a minimum of 600, and preferably it is a first lien. Any note can sell, but without some of these terms, your note may not receive the best offer.
This makes a lot of sense, especially with a hard to sell home; many home sellers actually work this way to achieve their goal. If this can work for you or someone you know now, a note can be presented for offers as soon as possible.