Owner Financing for Sellers
One of the most frequently asked questions of Forte Properties is “Can I sell my home with owner financing in Austin, Texas?” As a property owner trying to sell in this tough real estate economy, providing owner financing may be the best way to get it done. A good percentage of home buyers can’t qualify for traditional financing and because of this, the old way of thinking says homeowners won’t be able to sell their house. In today’s real estate economy, using the old-fashioned way of selling homes doesn’t always work. If you want to sell your house in Austin fast, listing it for sale on Austin MLS with owner financing as a financing option is guaranteed the best strategy available.
If you want to sell your house in Austin through conventional means, then you must have buyers who can qualify for conventional loans. However, fewer and fewer potential buyers are able to qualify for loans. Basic economics tells us that when there are fewer buyers, demand is low and sellers must decrease prices and increase incentives to sell a house. As such, sellers must compete for home buyers who can qualify for a loan and this typically results in lower sales prices and offering more incentives in order to get your property sold.
What if a seller is “underwater” (Owes more on the property than the current market value.) in their home and can’t afford to lower the price, pay extra closing costs or offer incentives to the buyer? If these distressed sellers follow conventional means only, then there is a good possibility that they will have to result to a short sale or their property will almost certainly end up in foreclosure if they can no longer continue to make the mortgage payments.
While there are few buyers who can qualify for conventional home financing, there are thousands upon thousands of buyers who without hesitation would purchase a home if only they knew about owner financing. The best way to sell your home fast and for top-dollar in Austin, Texas is to offer owner financing. Listing your house for sale on Austin MLS and offering owner financing will attract hundreds of buyers that are unable to qualify for a mortgage loan. Common sense says: The more buyers that can purchase your property means more demand which will allow Austin home sellers to sell for top-dollar and in the end a much faster sale.
Although banks are starting to be more flexible with the criteria used to approve potential home buyers for mortgage loans, the qualifying guidelines are still very strict. Reason being, there are home loan programs out there offered by the banks that allow a buyer to purchase with little or no money down. Without any cash invested in to the property, it’s very easy for a homeowner to pack up and walk away which is the reason most banks make sure your financial and credit history is impeccable. When sellers want us to help them sell their house in Austin with owner financing, we will ensure the deal is structured in a way which the buyer is required to bring a significant down payment to the table which in-turn will show their dedication and willingness to carry out the terms in the purchase contract seamlessly and ultimately refinance and obtain their own bank loan.
Still asking yourself, “Can I sell my house in Austin with owner financing” or “How do I sell my home in Austin, TX with owner financing”… Call Forte Properties today! We can sit down with you, go over the process, take a look at your property and no matter your circumstances can present you with the absolute best option available.