Is Owner Financing A Good Idea For The Seller In Salt Lake City – (801) 441-2800

If you’re thinking about selling your house and you’re wondering what your options are, perhaps you’re exploring something called “seller financing” (also called “owner financing”). Owner financing is a not used as much but very effective way to sell your house. And maybe you’re wondering, is seller financing or owner financing a good idea for the seller in Salt Lake City? That’s a great question and we’ll talk about it in this blog post…

Here’s How Seller/Owner Financing Works

Most homes that are being sold in today’s market, the buyer (who can’t pay cash for the house) goes to a bank or credit union and they pay a down payment and then make monthly mortgage payments until the amount that was borrowed is paid in full.

This is the way most people are familiar with buying and selling. Did you know that there is another way to sell your house that you might not be aware of, and it involves seller financing.

With owner financing, everything is the same except one thing – the seller of the house will be like the bank: the buyer pays a down payment to the seller and then pays the seller regular monthly payments (just like mortgage payments) until the house is paid in full. Everything closes with a title company and the payments can be made to the seller or set up through a escrow company.

Many Sellers Are Wondering, Is Owner Financing A Good Idea For The Seller In Salt Lake City

Many sellers do find owner financing to be a great idea.

  • They like having a larger group of pool of buyers to sell to (including those who might not have a 2 year job history)
  • They like that they get monthly cash flow from financing payments
  • They like that they still own the house and are protected, should the seller stop paying
  • They like that there is no property management

What’s not to love? You get ongoing cash flow and protection, and you’re still able to sell your house. That’s a perfect recipe. Whether this is your primary residence that you’re looking to sell, or you’re a landlord who is ready to start selling some of your rental property, owner financing might be a great option for you.

If you don’t need a lump some of money right now and want a monthly payments spread out over time or want to access a bigger pool of buyers, owner financing might be a great option for you. If you’re serious about selling your house and want to explore all of your options, take a closer look at owner financing.

With that said, owner financing is not for everyone. If you want to talk to one of our team about how owner financing might work for you, and what some of your other options are, call our team right now at (801) 441-2800 or click here to fill out the form and we’ll get back to you ASAP


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