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I have had a house on the market for two years assuming traditional financing. Do you think the property would be more appealing if it is owner financed?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi jessecomp.

Welcome to the forum. Owner financing certainly attracts the buyers. They may not have good credit and cannot get approved for the amount of loan that is required. But if the buyer has the ability to pay the loan, then you can opt of the Owner Financing option to sell your house quickly. But there are some risks involved. So you should take help from a real estate agent also on this issue. Know about the pros and cons of Owner Financing at http://www.mortgagefit.com/owner-financing.html.

Hope it helps. Feel free to ask if you have any further questions.

Best of luck,
Larry

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I am considering selling a house that is not my primary home and willing to hold the mortgage. How do I price it keeping this in mind. I am not in need of the cash. It is a two bedroom, one bath bungalo with a two car attached garage, full basement. Do I consider a lower price than what the market would ask if using a realtor since I will be making the money vs. a bank or mortgage company? I am trying to make it attractive but also don't want to undersell myself. I am aware of all the noted risks and will bear these in mind. I just need guidance in pricing. Is there a percentage or formula to consider in order to price?

jameshogg · Posted: Sun Apr 10, 2011 11:02 pm Post subject:

Hi tangey,

You can allow a property appraiser to appraise the property and let you know the fair market value of the property. Once you know the value of the property, you can decide whether or not you need to lower the price of the property and list it in the market.

Thanks

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