Do you need a certain amount of money out of your home, but it just isn't worth that yet? I have a solution for you that can be done in any market. It doesn't matter if it is a sellers or a buyers market! I can get you much more than the appraised value for your home, and it really doesn't take any extra work on your part, like doing a complete remodel would.
The way to do this, is for you the owner, to either offer a lease-option or owner-financing. This can increase the amount of money you get for your home from anywhere between $25,000 and $1,000,000.
If this sounds like something you might be interested in as a home owner, please feel free to contact me anytime.
Todd Clark - broker
Kastings & Associates
(503)524-9494
Todd@IFoundYourNewHome.com
www.IFoundYourNewHome.com
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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Hi Todd !
Thanks for sharing this info with us. Keep posting !
Lauie,
The buyer doesn't over pay for the home at all, it appraises perfectly fine. Sometimes he even does better than he could with a traditional bank. With owner financing the owner is making their extra money with the interest they are getting from the payments just like a bank would. The buyer if they could get a loan they would. Even if they could get a loan, what is their interest rate on a 80/20 loan, 7.5% and 12%? With the owner doing the contract it is usually 7 or 8%, still better than the bank offered and the closing costs are lower also.
With a lease option, you base the price on estimated future market price. Our present market increase here is at about 10-14%, but I usually get the owners to raise the price on 5-7% per year for the contract. That way if the market should slow down, we still have a cushion. The buyer is getting a chance to buy the home of their dream and they are getting downpayment assistance with the lease option. They get their down payment and $100 of each monthly payment applied as either down payment or closing costs. If the home does rise more than 5-7% they also get the appriciation. I have one buyer right now looking to execute the option early, so he can sell the property and we estimate he will make about $25,000 on the property. (The seller is happy also, He made $1,400 a month and is selling the property for $25,000 more than he could have last year.)
If you need further information on Lease-Option or owner financing, please feel free to read my blogs.
Todd