To some sellers, ‘seller financing’ is like a dirty word. But don’t turn your nose up at the idea so quickly! Here are 4 reasons why a seller should consider seller financing, or at least hear a buyer out if they ask for the option.

1. Sell difficult properties

There are many types of properties that can’t be financed through traditional methods, such as mobile homes or homes in need of major repairs. Offering seller financing is a good way to get around the issue of a lender not seeing the property as something worth financing for the buyer, and can sometimes be the only way to get it sold at a fair price.

2. Sell the property faster

Anytime you allow for other financing options, you expand your pool of potential buyers and increase the odds of selling your property quicker, and might even be able to get a higher price thanks to the increased demand.

3. Obtain a higher price

Buyers will pay for easy terms. From the buyer’s perspective they may feel like they got a better deal than if they’d financed through a mortgage company, since that’s one less middleman.

4. Great return on your money

Offering seller financing gives you a steady cashflow, much like being a landlord but with none of the responsibilities. Instead of collecting rent, you collect a mortgage payment without the headaches of having to maintain a home for a tenant. Not to mention you are in charge of the terms.

Of course, seller financing works best if the property is already free and clear of any mortgages that you may have, or if you owe a small amount on your loan. While seller financing might not be for everyone, it’s still something to consider if you have an unorthodox property or want more offers.

At Title Junction, we care about helping you stay informed throughout your real estate transaction. The experts at our title company have extensive knowledge about real estate not only in Cape Coral and Fort Myers, but all of Florida as well.

Have questions? Give us a call at 239.415.6574.

In case you missed it, check out our last Title Junction post: Getting a Visual on Closing Costs

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