Offering owner financing is an excellent way to sell your house for the price you want, all while making money off of the interest. Learn more in this post!
Utilizing owner financing or a rent-to-own agreement is an excellent strategy for investors and homeowners looking to sell a house swiftly and at their desired price. While the property isn’t sold outright until the end of the agreement, this approach can boost monthly earnings and virtually ensure a sale on a predetermined date. Many sellers overlook this option when listing their property in Edmonton. However, if immediate full proceeds are not necessary, opting to sell your house in Edmonton through a rent-to-own agreement could be the ideal solution!
Sell Faster
By offering a rent-to-own agreement or owner financing, you open the door to a wider pool of potential buyers who may have struggled to purchase traditionally. This increased interest can lead to a quicker sales process, as you’ll find motivated buyers committed to completing the transaction. It’s crucial to thoroughly vet your potential buyers; if they were declined by a traditional bank previously, there may be underlying reasons.
Create Consistent Income
With owner financing, you can enjoy a steady monthly income with reduced risk of late or missed payments. Tenants invested in the property are more likely to honor their payment obligations, knowing they are working towards homeownership. Vacancies during the agreement period are minimal, providing a reliable stream of income. Savvy investors can leverage multiple agreements on various properties to build a strong, somewhat passive, income stream.
Get The Price You Want
Buyers under an owner financing arrangement have less room to negotiate a lower price. Their eagerness to purchase, especially if they’ve faced challenges before, often results in a sale at your desired price. While it may take time to receive full proceeds, you are likely to find a buyer willing to meet your asking price.
Collect More Each Month
In addition to achieving your target sale price, tenants typically pay a higher-than-average monthly amount until they acquire the property. Some of these payments may contribute towards the down payment, allowing owners to receive an above-average monthly income during the agreement period.
Peace Of Mind
Offering owner financing provides peace of mind, ensuring that the occupants will maintain the property. If they violate the agreement by damaging the home, missing payments, or breaching terms, they risk losing a substantial down payment and the opportunity to purchase the property.
Considering owner financing for your property in Edmonton may seem daunting, but it is a proven method for investors and homeowners nationwide to generate consistent income while selling a property they prefer not to retain long-term. For any inquiries or assistance with the process, our team at YEG Home Buyers is ready to help!
In summary, offering owner financing is a great way to sell a house quickly and at the desired price, while making money off of interest. This strategy can boost monthly earnings and ensure a sale on a predetermined date. Offering a rent-to-own agreement or owner financing opens the door to a wider pool of potential buyers, leading to a quicker sales process. Consistent income can be generated through owner financing, with minimal vacancies and a steady stream of income. Buyers under this arrangement have less room to negotiate a lower price, often resulting in a sale at the desired price. Additionally, tenants typically pay a higher-than-average monthly amount, contributing to the down payment. Offering owner financing provides peace of mind, ensuring occupants maintain the property and avoid losing a substantial down payment.