We Buy Houses In Columbus Ohio. If you’re thinking about selling your home and you’re wondering what your options are, perhaps you’re exploring something called “seller financing” (also called “owner financing”). Owner financing is a little-known but very effective way to sell your home fast. And maybe you’re wondering, is owner financing a good idea for the seller in Columbus, OH? That’s a great question here at I Buy Houses Columbus owner financing step guide and we’ll talk about it in this blog post…
Here’s How Columbus Ohio Owner Financing Works
In a normal home-selling transaction, the buyer (who doesn’t have ALL of the money for a house) goes to a bank, get a mortgaged property then make regular monthly mortgage payments until the borrowed amount is paid in full.
This is the way most people are familiar with buying and selling. But there’s another way to sell your home that you might not be aware of, and it involves owner financing.
With owner financing, everything is similar except this one thing – the seller of the house acts like the bank: the new owner makes regular payments (just like mortgage payments) to the seller until the home is paid in full.
Many Sellers Are Wondering, Is Owner Financing A Good Idea For The Seller In Ohio
Many sellers do find owner financing to be a great idea. Here are some things that are appealing:
- They like that they have a larger group of potential buyers to sell to, including those who might not qualify for traditional bank financing
- They like that they get monthly cash flow from financing payments
- They like that they no longer are responsible for repairs including the roof, plumbing, electrical and appliances
- They like that there is no property management
- They like that they have a mortgage that protects them if the new owner stops paying. They can also sell the mortgage to someone else.
What’s not to love? You get ongoing cash flow and protection, and you’re still able to sell your home. That’s a perfect recipe. Whether this is your primary residence that you’re looking to sell by owner financing, 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.
Sell My House In Columbus Ohio
If you’d prefer to spread out payments or to have more buyers trying to buy your home, owner financing might be a great option for you. If you’re serious about to sell your house In Columbus Ohio and want to explore all of your options, take a closer look at owner financing.