I purchased a rental house in Pittsburgh-PA, and less than a year later sold it for 15% more without improving a thing. The easy terms are what helped me sell my rental house Pittsburgh-PA. In addition, the new tenants placed a down payment that greatly reduced the amount I had invested and the property and still make payments monthly at a nice interest rate.
Four Great Reasons To Offer Seller Financing On Your Rental House in Pittsburgh
1. To get a higher price. As you can see from the example above, buyers pay for easy terms. From the perspective of the buyer, he or she gets a place that they are paying towards owing it. Worst case scenario he forfeits his down payment and walks away from the property.
2. To get a decent return on your money. The 9% I'm getting is nice, but the true return was much higher, since I also sold the property for 15% more than I paid, and I get 9% on the entire balance. In fact, for a great return without the headaches of being a landlord, you can simply buy low for cash and sell high with terms.
3. To Sell my house Pittsburgh-PA quickly I expanded the potential market for the property, you increase the odds of selling it fast. Selling with easy terms invites more Pittsburgh home buyers to look at your property.
4. To sell difficult properties. If you have a property that is difficult to finance conventionally, offering seller financing may be the only way get it sold, and at a fair price. Also, you can normally find someone to purchase with seller financing quickly.
Of course, the ways you can sell are limited by mortgages and other loans. Owning the rental house in Pittsburgh-PA free and clear, which meant I could sell it any way I wanted. There are other ways to use seller financing though, even if you owe on the property. There are ways to do this safely too. Those topics are for another article.