We Buy Houses In Columbus, Ohio. If you’re thinking about selling your house and you’re wondering what your options are, perhaps you’re exploring something called “seller financing” (also called “owner financing”). Owner financing is a little-known but very effective way to sell your house. And maybe you’re wondering, is owner financing a good idea for the seller in Columbus? That’s a great question! We are homebuyers in Ohio and we’ll talk about it in this blog post.
Here’s How Owner Financing Works In Ohio
In a normal home-selling transaction, the buyer (who doesn’t have ALL of the money for a house) goes to a lender (such as a bank) and they pay a down payment and then make regular monthly mortgage payments until the borrowed amount is paid in full.
This is the way most people are familiar with buying and selling. But there’s another way to sell your house that you might not be aware of, and it involves owner financing.
With owner financing, everything is similar except this one thing – the seller of the property acts like the bank: the buyer pays a down payment to the seller and then makes regular payments (just like mortgage payments) to the seller until the property is paid in full. Then the ownership of the property transfers to the buyer.
Many Sellers Are Wondering, Is Owner Financing A Good Idea For The Seller In Columbus OH
Many sellers do find owner financing to be a great idea.
- They like that they have a larger group of potential buyers to sell to (including those who might not qualify for traditional bank financing).
- They like that they get monthly cash flow from financing payments.
- They like that they still own the house and are protected, should the seller stop paying.
- They like that there is no property management.
What’s not to love? You get ongoing cash flow and protection, and you’re still able to sell your house. That’s a perfect recipe. Whether this is your primary residence that you’re looking to sell, or you’re a landlord who is ready to start selling some of your rental property, owner financing might be a great option for you.
If you’d prefer to spread out payments or to have more buyers trying to purchase your home, owner financing might be a great option for you. If you’re serious about selling your house and want to explore all of your options, take a closer look at owner financing.
Sell My House In Columbus OH
With that said, owner financing is not for everyone. If you want to talk to one of our team about how owner financing might work for you, and what some of your other options are, get in touch with us!
If you need to sell your house in Ohio fast and can’t wait for the 3-6+ months it can take to sell your property yourself or through an agent, we can also help you! We are local Columbus area home buyers and we offer cash for houses throughout the Buckeye State. You don’t have anything to lose by seeing what we’ll offer on your property.