Do you want to sell your house? Selling the traditional way (through an agent) will attract some buyers. However, if you’re asking, “how do I sell my house owner financing in Wichita Kansas” that question can open a door to attract even more buyers. In this post, we will illustrate how selling your house using owner financing can attract more potential buyers.
Introduction to “Sell My House Owner Financing In Wichita Kansas“
When a homeowner sells their home the traditional way (through an agent), the buyers are usually trying to find a mortgage to buy a house to live in. In some markets, there are many of these kinds of buyers. Other markets lack these kinds of buyers. Real estate agents work almost exclusively with these “pre-qualified” buyers who face few obstacles to find a mortgage through a bank.
However, this method of selling has many problems. Sometimes you have to wait to see if a buyer can even get financing. Even if they do, financing can be retracted so you’re forced to keep showing your house to find another buyer.
If you want to increase your chances of selling your house you need to expand the range of possible buyers who can buy it. There’s a little-known strategy to do exactly that: sell your house with owner financing.
Owner financing is when a buyer skips the bank and buys directly from you. In essence, you’re the bank! Just like a bank, you get a down payment along with regular payments that will help you pay off your mortgage and even possibly make a profit. Usually, you can hold the title until the house is fully paid off. Then the title transfers to the buyer.
Benefits of selling with owner financing
- It broadens the number of buyers because you can find buyers who normally struggle to find bank financing.
- It gives you cash flow. Owner financing requires the buyer to make regular payments to you (just as they would need to pay regular mortgage payments to the bank).
- It protects you. You still own the house if the resident(s) stops paying!
- Unlike owning a rental, you are not responsible for property management, that is the responsibility of the buyer.
What’s next…
Are you wondering, “how do I sell my house owner financing in Wichita Kansas”? You can start the process by deciding how much you the monthly payment for your house should be.
There are many different ways to sell your house and in this blog post we shared how to sell with owner financing. Selling with owner financing isn’t for everyone though. However, if you want to attract more buyers, make some cash flow, all while protecting your property, then selling with owner financing might be right for you.