Too many home owners today are involved in a situation where a property they have listed for sale has been sitting unsold for much too long. The basic reason more often than not is that the asking price is too high for the market conditions.
In these situations, the seller will usually lower their price in hopes of making the property more attractive to buyers. Unfortunately, this technique does not always work to sell the property, especially if the seller is unwilling to offer an attractive on their property, or if the market is very weak.
One great solution for the seller is to open up to an entirely different segment of buyers by offering seller financing. The property owner can often sell their house for their desired asking price or even more. Another advantage is the likelihood of finding a buyer more quickly than with conventional real estate methods.
Many homeowners are hesitant to offer seller financing services because of a lack of understanding about how private financing works. Many homeowners are simply not aware that seller financing is an option.
Like other things that seem complicated on the surface, it is simply a matter of grasping the fundamental issues specific to seller finance. By following the proper procedures to locate a prospective buyer, create a note, and resell the note to a note purchaser they choose, a real estate seller that is willing to explore this option can very often sell their home for more money and close the deal faster as well.