We buy houses in Dundalk MD. With changes to the economy that we’ve seen in recent years, many homeowners are discovering that there are new ways to sell their properties that weren’t available before. You no longer have to sell through an agent – you can sell on your own or you can even accept seller financing. We are homebuyers in Dundalk MD and if you’re wondering how to sell a house by owner financing in Dundalk MD, keep reading this blog post and we’ll walk you step-by-step through the process…
The Step-By-Step Guide In Selling A House By Owner Financing In Dundalk MD
Step 1. Determine whether you own the Dundalk Maryland house outright or still have a mortgage
In some states, if you have a mortgage you may not be able to offer owner financing (but you can in other states). So the first step is to determine whether you have a mortgage or not.
Step 2. Talk to a Dundalk MD real estate attorney for help in crafting an agreement
With seller financing, you are essentially acting like a bank. The buyer will pay you a down payment and then pay you regular monthly payments until the house is paid off, and then it becomes their house. So make sure you talk to a real estate attorney to ensure that you are protected and obeying all federal, local, and state laws while also protecting yourself! (If you need the name of a good real estate attorney, get in touch with us and we can make an introduction.)
Step 3. Market your Maryland house online and offline
Once your paperwork is in place, you are ready to advertise that you have a house for sale. Be sure to let people know that you offer seller financing. There is no limit to how much marketing you should do – the more you can do, the better.
Step 4. Work with potential Dundalk Maryland buyers
As your marketing captures the attention of potential buyers, work with them to show them through your house. When someone makes an offer on your house, negotiate the price and terms with them and find the middle ground that will ensure a win/win situation. Sign the papers when you and the buyer reach an agreement.
Step 5. Collect the MD down payment and hand over the keys
Once you agree on a price and have signed the papers, collect the down payment and hand over the keys. In most situations, you will continue to own the house and collect payments until the house is paid off, then ownership transfers to the buyer.
Sell My House In Dundalk MD
In reality, selling your home is stressful, especially when you have to sell your house in Dundalk MD fast. You want to work with individuals who will take you seriously and get the job done! We are Dundalk MD home buyers and we’re here to bring a lot of value (and a little humor) to make the process of selling your house simple (and fun)! We look forward to the opportunity of discussing whether our cash offer is the right fit for you and your situation.