For those looking to get out of their homes without losing their shirts, most of us can’t remember a time when the housing market has been more depressed. While it’s true that the recent $8,000 tax credit has caused a slight up-tick in the number of home sales, that credit is about to expire. With unemployment at two-decade highs, things don’t look promising. Homeowners are increasingly asking: “How do I get someone to buy my home?” The key strategy for home sellers is to do everything possible to make their property as appealing to the largest pool of buyers. Owner financing makes this possible.
Instead of involving a mortgage broker and a bank, the owner offers to take payments from the buyer directly. This is usually done with a promissory note with the terms of the financing legally outlined. The amount involved can be all or any portion of the sale’s proceeds. Continue reading ‘Owner Financing the Sale of Your Home – Desperate Times Lead to Creative Measures’ »