Selling wih OwnerFinanceHQ.com's Owner Financing Program
Many investors, flippers, and traditional home sellers find themselves in a situation where they have not been able to sell their home thru traditional methods. Holding a property can drain your equity and create cash flow problems, especially if you are making double mortgage payments. Renting is not a long term solution for those who need to sell as they can devalue quickly due to tenant care.
It's called any of the following: Contract for Deed, Lease Purchase Options, Land Contract, and Owner Financing.
Due to the current market situation, there are numerous custom home builders and rehabers who are willing to put good families in their homes via one of these owner financing contracts. SellMyHouse.com work with only the best builders, investors, and individual sellers in each community. They have property in all price ranges- from $100,000 to over $3,000,000. Each has been vetted for financial stability to ensure the integrity of this program, and their banks are on board with our program..
Due to the economy, more potential house buyers find themselves just missing out on traditional mortgage products due to lower credit scores and higher credit standards by lending institutions. Those potential buyers that can meet down payment requirements and have good incomes are still being turned away from traditional mortgage companies due to substandard credit scores.
Some of these buyers may actually be a GREAT candidate to purchase your home in 12-36 months if you are willing to provide the financing while we work with them to repair their financial situation and secure funding in the future.
The Sellmyhouse.com CredMod Program manages the entire owner financing, contract for deed, or lease purchase process from A to Z utilizing all of its marketing and service resources to help the Seller find a Buyer and convert them into a traditional mortgage. The process includes marketing the property via our CredMod singage, our local Realtor including the MLS (if necessary), and via our national website platforms, pre-qualify the buyer and initiate a contract, and finally, working with the buyer during the contract period to help them secure the long term financing needed to refinance the house via constent management and repair of their financial situation thru credit repair, debt management, financial planning, and/or debt consolidation. Funding can take place as quickly as 60 days but typical time frames range between 1 to 3 years depending on several factors.
It is important to note that this is an expensive process that may involve any combination of an attorney, credit repair, debt consolidation, a Realtor, financial planners, administration processors, private equity sources, and/or other 3rd party service providers.
Properties that qualify for this program:
* Property must be in Good Condition. (pass a home inspection if required)
* It must have a current market value over $100,000 or pay the minimum fee.
* The property must appraise for the actual selling price upon refinancing.
* Seller must be willing to pay a selling fee of 5% (2% upon contract, 3% upon refinance, $5,000 Minimum Fee)
* Access to just our Owner Financing Buyers carries a 3% fee paid upon signing the initial contract ($2500 Minimum Fee) NOTE: No other 'contract management' services will be required on the part of SellMyHouse.com or our affiliates after the contract is signed.