Many people have struggled over the past years, especially those trying to sell their homes. The real estate market has been absolutely dreadful, making it hard for some to sell their home at top dollar in a short time period. These circumstances have made it hard to sell a home, sometimes even with the help of a real estate agent. This is why many sellers are open to using seller financed notes with an interested buyer.
Many use a real estate agent to help them get a sale, but these days even the traditional method isn’t working. You get help with marketing the home, but placing pictures online and scheduling home visits doesn’t sell a home. The reason is poor credit scores and the inability of some to obtain traditional financing. This eliminates a large number of interested buyers, some who currently find themselves in a better financial situation.
If you’re a seller trying to get rid of your home quickly, you many want to consider using seller financed notes. This allows you to serve as the banker or holder of the loan. You provide the money needed to the buyer in the form of an IOU created by your lawyer. It’s really an ideal situation because there’s no need for traditional financing and you receive top dollar for the property.
You will want to make sure you research the buyer well and have a good lawyer put together the list of all conditions and stipulations for the buyer. Otherwise you could find yourself in a sticky situation. The payment schedule needs to be exact. Although, you don’t have to deal with the situation on a long term basis. You can recruit the services of a company to buy the seller financed notes from you for a lump cash sum.