Sell Your House Quicker and For More Money
Being willing to carry back a note on your property, precluding the buyer from having to get bank financing, can be a powerful tool. It can get you a higher price for your home and a quicker sale. In today’s real estate market, this can make the difference between your house languishing on the market for months on end, and finding a buyer and moving on with your life.
Then you have 2 choices:
- Keep making payments on your current mortgage and retain the difference between what you owe every month, and what you are collecting on the note. You’ve created cash flow for yourself.
- Sell all or part of the created note. Pay off the mortgage and use the balance for whatever needs you have.
Creating the note properly is the key to getting the most value for this cash flow. Interest rate and the term of the note are very important.
Consult with a professional, or do your research beforehand. A note can be created and sold at the same time if handled properly. It’s worth looking into.
