Why offer seller financing? Let me give you an example. Many years ago I bought a rental property, and then realized I didn’t want to be a landlord. So nine months later I sold it for 15% more than I paid, without fixing or improving a thing. The easy terms are what sold it. I took $1000 down, and years later, I still get a payment every month, with 9% interest.
Reasons To Offer Seller Financing
1. You’ll get a higher price. The example above shows that buyers pay for easy terms. Think about it from my buyers perspective. He got a place for almost nothing, that the renters are paying for. He’ll do great even if he later sells it for less than he bought it for. I love the return I’m getting, but if I need to, I can sell the contract for cash.
2. You’ll get a decent return on your money. The 9% annual interest 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. Of course this is for when you...
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