A seller that offers financing is more likely to attract these buyers, often commanding higher prices and faster sales. They make more money than the listed purchase price, because they earn interest on their financing. The buyer is happy because they can purchase a nicer home sooner. Seller financing is a win-win for both parties.
Let's stick with this week's theme about Mercer Island, and take a look at current listings on the NWMLS to see which ones might offer a buyer attractive terms like owner financing. Out of the twenty current listings for residential properties priced under $3million on Mercer Island, only ONE offers the option of seller financing. MY listing. Here it is:
5BR, 3.5BA, 4240sf at 4895 Forest Ave SE. Listed for $1,549,000:
Relax in this gracious, secluded MI setting: a wooded park-like ravine w trails, deer + a creek in private greenbelt. Enjoy coffee + entertainment w friends on outdoor decks w city views, watch Blue Angels overhead for Seafair. Outdoor hot tub, greenhouse + sm goldfish pond for nature-lovers. Wired generator means power through any winter wind storms. Spacious, beautifully maintained + updated, move-in ready! Worry-free living + elegance! Great MI schools. Possible seller financing/terms.
It doesn't mean that the other 19 listings might not get an offer for owner financing, seller carryback or other terms. It simply means that these listing brokers were either unaware or untrained in the benefits of seller financing. It means that a buyer making a seller-financed offer to these brokers had better be prepared to educate the seller because in all likelihood the listing broker will not understand it.
For many buyers looking for seller terms, it is a waste of time trying to educate the brokers. The confused mind typically just says No. So look for listings and brokers who understand seller financing, in order to find the best owner-financing deals and strategies.
To learn more about how seller financing can work for you, please send a private message to HomeLandInvestment@gmail.com and
Happy Investing!
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