5 Benefits of Offering Owner Financing To Home Buyers In Fort Wayne

Offering owner financing is an excellent way to sell your house for the price you want, all while making money off of the interest. Learn more in this post!

A rent to own agreement or offering owner financing can be an excellent way for investors and homeowners  to sell a house quickly and for the price they want. While the home won’t be sold outright until the end of the agreement, it can be a way to increase what you’re making each month, while almost guaranteeing a sale by a pre-determined date. Many people don’t consider this option when selling their Fort Wayne house. However, if you don’t need the entirety of your proceeds upfront, selling your house in Fort Wayne with a rent to own agreement may be right for you!

Sell Faster

The first benefit of offering owner financing to home buyers in Fort Wayne is that you’ll most likely be able to sell much quicker. When you use a rent-to-own agreement or offer owner financing to buyers, you will open the door for many people to buy your house who may not have been able to qualify for traditional financing. More potential buyers means that you will be able to get a contract signed much more quickly. You will be able to find potential buyers who are eager and determined to follow through on their end of the transaction. Be sure to do your homework on your prospective borrower, including running a credit check, background check, and checking rental history. If a traditional bank had turned them down in the part, there is likely a reason why.

Create Consistent Income

The second benefit of offering owner financing to home buyers in Fort Wayne is the consistent income each month! By offering owner financing, you’ll be able to bring in a consistent income each month, with a lower risk of a late or missed payment. Your tenants are invested in the property and are much less likely to default on their payments when they know they are in it to eventually own the home outright. In most cases, you aren’t going to have to worry about any vacancy during the life up the agreement, as they are making payments based on this being their home in the near future. . A savvy investor may be able to facilitate a few of these agreements on multiple properties, thus producing a very strong, somewhat passive, income for themselves.

Get The Price You Want

The next benefit of offering owner financing to home buyers in Fort Wayne? Price. People who are taking advantage of your owner financing offer are going to have less room to negotiate for a lower price. In many cases, they are eager to buy, especially if they haven’t been able to in the past. As such, you will likely be able to find someone who will pay you exactly what you want for the house, even if it does take a little bit of time to collect 100% of your proceeds. You won’t have to worry about inspections or appraisals on this type of transaction.

Collect More Each Month

Another benefit of offering owner financing to home buyers in Fort Wayne is you will collect more each month than a standard rental agreement. In addition to getting the overall price you would like to receive for the property, your tenant will also likely pay you a higher than average “rent” payment each month until the agreement has completed and they buy the house outright. In some cases, a percentage of the monthly payment will go toward the down payment on the house. Owners can still find themselves collecting a higher than average check each month!

Peace Of Mind

The last benefit of offering owner financing to home buyers in Fort Wayne is easy. Peace of mind, knowing you are paying your mortgage, and giving a potential buyer an opportunity to become a home owner. When you consider offering owner financing to prospective buyers, you’ll get the peace of mind in knowing that the people moving in are going to take care of the home. If they trash it, miss a payment, or otherwise violate the agreement, they could be out a hefty down payment along with their opportunity to purchase your home.

Offering owner financing for your house in Fort Wayne may feel risky, however it is how investors and homeowners all over the country are able to create consistent income while selling a house they’d rather not hold onto for the long term. Our team is happy to answer all of your questions and help you facilitate the process!

Reach out to us today to learn more about offering owner financing when trying to sell your house fast in Fort Wayne!

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