“According to statistics based on the National average of homes sold, about 40% of homes sell within the first month of being on the market.
However, houses that don’t sell in the first month often remain on the market for months and months and usually don’t sell until significant price adjustments have been made.
There are many factors which impact how long it will take to sell your home. The condition of your home, its location, market conditions and the price are usually the most significant.”1
Home sales are also impacted by available financing. Increasingly, traditional lenders are tightening their lending requirements making it harder for the home buyer to get the needed financing.
“One trend surfacing out of this situation is the re-emergence of lease option, lease-to-own and owner-financed real estate deals. Listings for homes with owner financing available or for lease-to-own consideration are becoming more prevalent nationwide.”2
These non-traditional methods work especially well for home buyers that have not been able to secure financing from institutional lenders and home sellers who own their home debt free. Offering owner financing increases the pool of potential buyers on most properties especially homes.
If you have not sold your home as quickly as you had hoped and if traditional financing for your potential buyers seems to be the problem, you might want to consider owner financing. This option may prove to be the catalyst to get your home sold.
Always consult a competent real estate attorney to handle the transaction and click on this link to see how to create a “Sellable Note”. Once you have your home sold and your owner financed note set up, consider having your note serviced by a professional servicing company such as Investor Loan Services .
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If you currently own a real estate note and are in need of immediate cash, we would like an opportunity to bid on and possibly BUY YOUR NOTE! With over 20 years experience in the private note industry, our experienced staff is available to provide you with a quick quote and help make it easy for you to get the most for your note. Visit us today at www.notebuyingusa.com or contact us at 1-877-399-1211. If you are considering offering owner financing when you sell your property, please click here to receive your free copy of “10 Critical Steps to Creating a Sellable Note”.
This information is intended to be used as a general guide. It is not intended to constitute legal advice and is not a substitute for the advice of an attorney. While every effort has been taken to present the information accurately, this document may not be infallible. No warranty is made that these materials are current, complete, accurate, or suitable for any particular purpose. You should seek advice from your attorney before proceeding with any real estate transaction.
Source(s):
1. How long will it take to sell your home? Michel Dukhovney, ND, United National Realty, http://www.unitednational-realty.com/gold_howlong.asp , Retrieved 07/31/12. 2. Home Sellers Turning to Lease-to-Own, Offer Owner-Financing Terms, Jack Philson , ND, RealtyStore.com, http://www.realtystore.com/foreclosure-news/home-sellers-turning-to-lease-to-own , retrieved 07/31/12.
