We buy houses in Mayfield Kentucky. We are legitimate homebuyers in Mayfield and if you’re thinking that you want to sell your property in Kentucky, you’re probably wondering what your options are. Perhaps, you’re exploring something called “seller financing” (also called “owner financing”). Owner financing is a little-known but very effective way to sell your home. And maybe you’re wondering, is owner financing a good idea for the seller in Mayfield? We buy property in Kentucky and this is a great strategy for the buyer and seller. We’ll talk about it in this blog post…
Is Owner Financing A Good Idea For The Seller In Mayfield KY?
Here’s How Owner Financing Works In Kentucky
Normally, when you sell your home in Kentucky, the buyer (who doesn’t have ALL of the money for a house) goes to a lender (such as a bank) and they pay a down payment and then make regular monthly mortgage payments until the borrowed amount is paid in full.
This is the way most people are familiar with buying and selling. But there’s another way to sell your Kentucky house that you might not be aware of, and it involves owner financing.
With owner financing, everything is similar except this one thing – the seller of the house acts like the bank: the buyer pays a down payment to the seller and then makes regular payments (just like mortgage payments) to the seller until the house is paid in full. Then the ownership of the house transfers to the buyer.
Many Sellers Are Wondering, Is Owner Financing A Good Idea For The Seller In Mayfield?
Many sellers do find owner financing to be a great idea.
- They like that they have a larger group of potential buyers to sell to (including those who might not qualify for traditional bank financing)
- They like that they get monthly cash flow from financing payments
- They like that they still own the house and are protected, should the seller stop paying
- They like that there is no property management
What’s not to love? You get ongoing cash flow and protection, and you’re still able to sell your Mayfield house. That’s a perfect recipe. Whether this is your primary residence that you’re looking to sell, or you’re a landlord who is ready to start selling some of your rental property, owner financing might be a great option for you.
If you’d prefer to spread out payments or to have more buyers trying to buy your house, owner financing might be a great option for you. If you’re serious about selling your house and want to explore all of your options, take a closer look at owner financing.
Sell My House in Mayfield KY
With that said, owner financing is not for everyone. If you’re ready to sell your house in KY fast, you’ve come to the right place! We’re experts and we truly enjoy helping others. We want the best outcome for you and your loved ones. If you’re ready to sell your property, great! If you’re looking for advice, we’re happy to provide that as well. We are professional home buyers in Kentucky and we offer cash for houses in Mayfield, we love helping sellers sell their house faster, easier, and for no fees.