If you have your home on the market or are soon to put your home on the market; how would you like to sell your home by the end of the year?
If you are thinking this is almost impossible because there is only one month left in the year and a typical closing will take 45-60 days from the accepted offer...your almost right!
Sellers you can sell your home and CLOSE by the end of the year - when you offer seller financing! Specifically offering CONTRACT FOR DEED financing on your home. These is easy and should be a prime option for someone who owes little or nothing on there home! If you have a loan that you still owe close to fair market price on, check with your lender about being able to do a contract for deed.
There are buyers out there with a down payment. They just don't have the credit! They can close quickly. Often closings can be as fast as 2-3 weeks. They will typically be okay paying close to asking price even. (Something a lot of other buyers do not want to do now).
You should offer a fair interest rate and right now a fair rate for CONTRACT FOR DEED in the 7% range. You are going to want to get a down payment. I think 10% down makes a lot of sense right now. I have seen sellers ask for 20% down, but its really hard to find a buyer with that much down. You could look for less, but if you are going to list your home and work with a Realtor that lower down payment will only cover your selling fees at best.
Its a lot easier to find a buyer if you are working with a Realtor who knows how to market a home for sale with contract for deed financing. Again things can move fast with these type of sales, so if you have a house you need to get sold soon consider offering CONTRACT FOR DEED financing.
If your looking to buy or sell a home on Contract for Deed in Minnesota you are welcomed to call or email me with questions or to get started.