Owner Financing when Buying AND Selling a Home?

Many people have heard of owner financing, especially in Austin TX however, most people just think that you need the money to finance the entire SALE or PURCHASE! NOT true!



Lets first talk about BUYING with Owner Financing



Most people can’t get a loan today from a bank even if they have a little ding on their credit. It’s hard to get a loan today especially for business owners, entrepreneurs, people with past medical bills and people who don’t have perfect credit.



Sellers who are selling with owner financing can offer perspective buyers many more options than conventional buyers.



Here are some advantages that Owner Finance Buyers have:



· Owner Finance sellers can close in as little as 5 days!

· If an Owner Finance buyer has access to a down payment and can afford the monthly payment, you qualify for the loan. NO piles of paperwork to produce and years of tax return to find to qualify for this mortgage!

· Owner Finance buyers can do their own due diligence on the property and make their own decision on the purchase. Typical conventional transactions require the bank to approve the condition of home before they fund the loan.

· The buyer will get the DEED of the house just like in a traditional transaction.



Now when you are selling with Owner Financing you have many more options available to you then typical sellers. The best way to first look at owner financing is like putting a 2nd or 3rd mortgage on your house. You will be using your financing and the 2nd or 3rd mortgage you will create will be your owner financing. The new buyer will pay you for all the mortgages on the house and this is basically how you owner finance a home. Keep in mind there are some serious legal documentation required to conduct this transaction. This is one reason to contact a Owner Finance expert like us at Endurable Investments LLC in Austin TX. We can help you navigate this entire process and help find you a buyer.



Here are some advantages that Owner Finance Sellers have:



· The seller will determine the interest rate on the loan and how much “cash flow” they will make per month on the payment

· The seller has the right to run the buyers credit and can be selective on terms and who buys the house

· The seller is NOT a landlord. If the toilet breaks in the middle of the night, its up to the NEW owner to fix it

· If the buyer defaults its typically easy to get your DEED back and resell the house to someone else. Always check with your lawyer on this one. Many times you do not have to file a foreclosure if someone is behind in payments, just ask for the deed back and move onto another buyer

· Most important, there are ALWAYS buyers out there with cash and dented credit. You will have a large buying pool to work with.



If you want to buy or sell with owner finance in the Austin TX area, contact us at Endurable Investments LLC. We are buying 5-7 houses per week and have over 60+ houses that we owner finance out at any given time. Visit our company website at www.EndurableInvestments.com



If you are in the market to buy a home with owner financing, visit our list of homes at www.AustinRealEstateBank.com



If you want to learn about real estate investing anywhere in the country, please visit www.MillionaireRealEstateBlueprint.com