Do you own a house and are thinking about selling? Selling the traditional way (through an agent) will give you access to some buyers. However, if you’re asking, “how do I sell my house owner financing in Dallas TX” then you’re making a smart move that will give you access to potentially many more buyers! Keep reading to find out how…
Introduction to “Sell My House Owner Financing In Dallas TX“
When a homeowner sells their home the traditional way (through an agent), the buyers are typically your normal buyers who are trying to get a mortgage to in order to buy a house that they will live in. In some markets, there are a lot of these kinds of buyers but in other markets there aren’t as many. And real estate agents typically work with these kind of “pre-qualified” buyers who can get a loan to purchase a home through a bank.
However, this method of selling is not without its problems. For example, sometimes you have to wait to see if a buyer can even get financing (and sometimes the financing falls through so you’re forced to keep showing your house in order to find yet another buyer).
If you want to increase the likelihood that you’ll sell your house, and expand the range of possible buyers who are able to purchase, here’s a little-known strategy you might not be aware of: sell your house 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 get an up-front deposit and then you get regular payments that pay off the amount that the buyer owes for the home which would include interest. In most cases, you hold the title until the house is fully paid off, and then the title transfers to the buyer.
Benefits of selling with owner financing
- More potential buyers: It opens up the number of buyers because now you’ll be able to find buyers who might not normally be able to get financing from the bank (maybe they’re self-employed or haven’t been at a new job very long or maybe their credit isn’t quite high enough, etc.)
- Cash flow: This option gives you cash flow, since the buyer will need to pay regular payments to you (just as they would need to pay regular mortgage payments to the bank).
- Protection: Owner financing protects you because even if the buyer stops paying, you still own the house!
- No property management involved: Unlike owning a rental, there isn’t a lot of property management since everything pertaining to the home will be the responsibility of the buyer.
Wondering, “how do I sell my house owner financing in Dallas TX”? Start by deciding how much you’d like to receive each month for your house.
There are many different ways to sell your house, and in this blog post we shared with you how to sell with owner financing. However, selling with owner financing isn’t for everyone, but if you want more exposure to buyers, plus some cash flow, plus plenty of protection, then selling with owner financing might just be right for you.