How to Get More Than The Asking Price For Your Property

How to Get More Than The Asking Price For Your Property

Part 1 of 4

When the number of real estate buyers is greater than the number of available homes, real estate property values usually go up. It’s an ideal environment for sellers because buyers are forced to compete, and properties usually sell quickly – often for even more than the asking price!

But as more properties go on the market, buyer competition subsides. Prices level out, and eventually drop. Most assume this is a bad time to sell a home. But in fact, it can be the best time for educated sellers to tap into a little-known market, using the creative power of seller financing.

A seller’s best strategy

With the help of a professional Note Finder, a seller can open the doors to buyers normally locked out by traditional financing. A so-called “down market” is the ideal time for resourceful sellers to target the millions of people who can’t get funding. These buyers are often willing to pay more in order to buy a home without traditional financing.

The seller sets the price, determines and accepts a down payment, and then finances the remaining balance. The buyer gets a home without having to fully-qualify for a traditional loan. It’s a favorable situation for both seller and buyer. And while this “outside of the box” form of financing can seem a bit daunting, it can happen very smoothly and easily with the knowledge, experience, and guidance of a professional Note Finder like me.

Here is an example: If the seller wants $100,000 for the property, and the buyer gives the seller $10,000 cash, the seller will finance the balance of $90,000. The buyer and seller would then agree to the terms, such as the interest rate and the total term, and use an attorney to create the mortgage document and close the deal. From that point on the buyer sends the seller monthly payments for the house he has just purchased.

A great opportunity for sellers

The whole process can really be that simple. But there are some substantial differences between a seller-financed deal and one that relies on traditional bank funding.

First of all, the seller will not receive a large one-time payment at the time of the sale. In fact, she will only receive the down payment. Since many home sellers are also looking to buy another property, the seller may need to get enough at closing to pay her down payment. Without this payment, the seller’s hands could be tied when she looks to purchase another house. There is a common solution to this issue that offers the potential for even MORE money to the seller!

Note Finders specialize in helping new mortgage holders sell newly-created notes for a lump sum of cash. In the end, seller financing could be used to sell property at a higher price than expected and the sellers could get the money they need. Essentially, sellers can “have their cake and eat it too.”

In summary

Step #1: Use the seller-finance option to find unique customers willing to purchase at a higher price than would have been possible otherwise.

Step #2: Decide on the terms of the deal and create the note to complete the real estate transaction quickly.

Step #3: If the property seller needs immediate cash, contact me to help locate a buyer for the new mortgage note. The person who buys the future payments from the seller will likely provide the funding to act as a down payment on a new house and every party involved in the deal comes out smiling.

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Sincerely,

Sydney Griecci

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