Demand for Rentals and Creative Terms

On the move........

Everyday we're getting calls personally and in our office for people in need of a rental.  The callers begin the conversation by asking questions about homes that are on the market, and once you delve into their real needs, and what the caller is searching for, you quickly realize the call is a fishing expedition for a rental.  Being in the customer service business and sales our immediate reaction is how can we help.  But we're not property managers and an agent is limited in what they can do to assist.  Sadly this is a sign of the times - empty properties on the market and folks searching for a home to live in.

                                             

Obviously selling properties is how the we make our money and some of the creative ways we've found to do that is owner financing.  We've been successful in closing properties that may have been on the market for a long period of time, and the sellers are motivated to get them moved, by being creative in our options.  The terms of owner financing are negotiable and can be worked out to suit the needs of both the buyer and the seller.  If you have money for a down payment, and you have a willing seller to hold a first mortgage on the property, this is a win-win.  Consider a 30 year amortization on the mortgage with a payment to reflect that, but add a balloon in 5 years and you may have a deal! 

Then lending environment being what it is has forced us all to think outside of the box. When a seller is getting a substantial down payment they really are in a good position. The buyer has the time to clean up their credit, if that is an issue, and re-establish themselves. The buyers also has a vested interest in taking care of the property and if they walk away from it, the seller has the property back, the down payment, along with any payments that have been made.  Here's a link to a more detailed explanation  http://homebuying.about.com/od/financingadvice/qt/091007_OwnFinan.htm


Consider this when you're ready to buy and sell in this challenging market!  Call us and we can discuss this further if you have questions!  We have to always be thinking out of the box and this is just one of the tools we use to sell houses.