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 wondering, “how do I sell my house owner financing in Dallas Texas” then you’re making a smart move that will give you access to many more buyers! Keep reading to find out how…
Introduction to “Sell My House Owner Financing In Dallas Texas“
When a homeowner sells their home using a real estate agent (the traditional way), the buyers are usually regular buyers who want to get a mortgage and then live in the house that they buy. In some markets, there are many of these kind of buyers but not as many in other markets. It all depends on where you are? And real estate agents typically work with “pre-qualified” buyers who have been approved to get a mortgage through a bank.
However, this method of selling is not without its own special set of flaws. For example, sometimes there is a long 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 to find another buyer). This is a waste of precious time.
If you want to increase the chances that you’ll sell your house quickly, and attract more potential buyers, here’s a little-known strategy you might not be aware of: sell your house with owner financing.
Owner financing is when a buyer purchases your house directly from you. YOU are the bank! And similar to a bank, you get your deposit upfront and then you get regular payments that pay off the remaining balance of owed to you. 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
- It dramatically increases the number of qualified buyers because now you’ll be able to find buyers who might not normally be able to get bank financing.
- It gives you cash flow, since they 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 because even if the buyer stops paying, you still own the house!
- And unlike owning a rental, you don’t have to make any repairs when things break down. (since the buyer now owns the house)
Are you wondering, “how do I sell my house owner financing in Dallas Texas”? Start by deciding how much you’d like to get 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. 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 be right for you.