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◊7 Ways to Sell Your House in 7 days
For Investors:
◊FAQ: Current Subscriber Questions
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SELL YOUR HOUSE SUBJECT-TO EXISTING FINANCING: Another way to sell your house quickly, is to an investor who will buy "subject-to the existing financing". Known to investors as purchasing a house "subject-to". In other words, the investor will assume all of your present financing on the house and will take over your payments. Under these circumstances, the loan will usually stay in your name, but ownership and control of the property will be transferred to the buyer, possibly in the form of a land trust. The investor will then have to bring all the payments current and commit to making timely payments from there on out. This is one of the fastest ways of selling a property, because waiting for new financing is no longer a factor and it can be a win-win situation for both the seller and buyer. The buyer does not have to spend a lot of time and money obtaining new financing, so they can buy with smaller profit margins than they would be able to under the Cash and Hard Money options. The seller is able to get the house off their hands quickly, by transferring control and ownership of the property. Yes, the seller still has their name on the existing loan, but the right investor can actually help to improve the seller's credit, by making timely payments and showing good credit history for the seller. Selling your house subject to the existing financing does of course need some risk to the seller who whose name will still be on the original loan. SEO is important to find out as much as you can about the investor buyer you're going to work with them be sure you have a good understand of how it works and that you can trust the buyer of the property to continue with making the payments . for some homeowners this may be the only option for selling their house if they do not have enough equity in the house for a cash fire by the amount completely . submitted for example the seller was going to possibly be going into foreclosure anyway been subject to bay by may be decreasing their risk because of the screen out that there's a chance that the credit will still be saved and possibly even be improved by the new cash buyer.
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