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Offering owner financing is a sensible way to sell property and extremely common all over the country (it has been estimated that approximately 10%-15% of property sold is now done so with seller financing). Offering to finance the purchase of your property can help you sell it more quickly, may provide tax benefits and will give you a nice source of monthly income. Enclosed below are some additional benefits enjoyed by offering to provide owner financing to potential buyers.

Advantages for the Property Seller
The number of potential buyers for your property will increase significantly;
The sale price of the property should not need to be reduced below fair market value;
The property sale will close more quickly than if bank financing were used;
Any potential income tax liability from the sale may be able to be deferred by the property seller;
In most cases, the note created can be sold and converted into cash at any time.

Advantages for the Property Buyer
The buyer will not have to meet rigid bank qualifying standards;
The buyer may be able to purchase a property the banks would not qualify them for;
The buyer will pay lower closing costs than with bank financing;
The buyer may be able to make a smaller down payment than the banks would require;
The buyer may have the option to create flexible payment terms;
The buyer will not have to pay origination fees or mortgage insurance;
The buyer may not have to establish a prepaid escrow account for taxes and insurance.


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