How To Use Owner Financing and Sell On Terms

Have you ever wanted to sell a property in Oregon or Washington, be it a house, condo, townhome, vacant piece of land, etc. – but wanted your price and that was that? Or maybe you just didn’t want to deal with the burden of a HUGE capital gains tax in one year. Well, why not sell the property on Terms, also known as Owner Financing?

Now you are probably wondering what selling on Terms even means and how is it done. Let’s first start with how most people sell a property in Oregon or Washington. They do the transaction through a realtor who lists their property on the MLS, hoping to sell the home to a buyer who is getting a conventional bank loan. That is all that most of us have ever learned to do!

What is selling on Terms, also known as Owner Financing Oregon & Washington?

There are many other options to go about selling your property with owner financing, for a price and term that works best for all. When selling on terms both sides can win and it’s just as easy, if not easier than the conventional route.

Oregon & Washington Owner Financing Term Options:

• Lease Option
• Subject To
• Land Contract
• Wrap

Highlights of all the above include:

• Quick sale without a lot of hassles
• Not a million people coming through your home all hours of the day, only to make no offer or a low-ball offer
• Close with a title company, just like a conventional sale
• No Realtors commissions for you to pay
• Close on your timeline

Owner Financing overview of each option available for your Oregon or Washington home:

• Lease Option – also known as our Rent to Sell program.

A lease option is a type of owner financing that includes a purchase contract combined with a rental agreement.  Bridgetown Home Buyers will lease the property for a specified period of time from you, with the option of purchasing the property before the end of the lease agreement.  Sales price, length of lease, closing costs, and maintenance are all negotiated in advance.  A lease option, if properly utilized, can be both an Oregon and Washington seller’s and a buyer’s dream come true – it can eliminate many of the negatives typically associated with the selling and buying of a home.

• Subject To – also known as take over my mortgage…please & thanks!

Buying or selling subject to, is simply buying a home subject to the existing mortgage. The seller leaves the existing mortgage in place and the buyer takes over making the payments. The unpaid balance of the existing mortgage is the buyer’s purchase price – at times, the seller may still receive cash consideration.

• Land Contract – also known as Seller Financing, our Be the Bank program.

Do you own your property free & clear with zero mortgage to pay? If you do, then this is the owner financing terms program for you to use in Oregon or Washington – you BE THE BANK. A land contract is when the seller finances a property and allows the buyer to make payments directly to them. This is a great and easy way for owner financing a property. The buyer gains access to the home, but the seller maintains the legal title until the buyer pays off the loan – just like a bank.

• Owner Wrap – this is a hybrid of our Subject To & Land Contract programs.

Maybe you still have a mortgage on the Oregon or Washington home, but you have some equity and don’t want to lose it. By doing a wrap, the mortgage stays in place like a Subject To sale, and a second or third mortgage is added on for your equity, as with a Land Contract. Pending what is worked out, some funds for your equity may be paid at the closing of the sale and the rest either in payments or a lump sum at the end of the term.

Now, to sum up when you should consider using Owner Financing to sell your home on Terms:

• Not enough equity in the property to justify paying a realtor
• Just ready to be done with the property and need a FAST sale
• You own the property free & clear and don’t need or want all the money upfront
• You still have a mortgage, but also some equity, you want your price and a stress-free transaction

Let’s get your Oregon or Washington property SOLD today!

Are you ready to hear more about selling on terms – did you pick an owner financing option that you feel may work for you? Get in touch with us to find out more.

We keep it Simple, Fair and we purchase in “as-is” condition – CASH, in 30 days or less!!!

What are the key benefits of using Owner Financing and Sell On Terms?

When considering buying a property, the benefits of owner financing vs seller financing are apparent. Owner financing allows for flexibility in negotiation and terms, as well as potentially lower closing costs. This can be an appealing option for buyers who may have difficulty obtaining traditional bank financing.

Sell Your Home With Owner Financing Terms Today! ?