Owner Financing your Home

Thinking of doing owner financing to sell your home? 

Well, that’s not a bad idea if you do it right and you know what you’re getting into.

But you DO need to know what you’re getting into. 

Here are some pros and cons for sellers in owner-financing deals:


Sell Faster: Sellers who offer owner financing can often sell their home more quickly than those who don’t.

Sell As-Is: Sellers won’t have to make as many repairs or renovations as would normally be expected when trying to meet a lender’s expectations. 

Retain Title: If the buyer defaults on the payments, the seller keeps all of the payments and the title to the house.

Good Investment:  You may find that owner financing is a good investment opportunity. 


More Upfront Work: There will be more work upfront for you as the seller, such as drawing up paperwork and meeting with potential buyers. 

Potential Default: If the buyer defaults on their payments, it will be up to you to evict them and take back the property. This can be a long and costly process. 

The Need to be Organized: You’ll need to keep track of payments, interest rates, and other important details. 

Repair Costs: If the buyer defaults, you may incur costs for repairs that are necessary to get the property back into sellable condition. 

Dodd-Frank Act:  The Dodd-Frank Act (2010) protects consumers in owner-financed deals by requiring sellers to provide disclosures and follow certain rules. 

Hope that helps!

If you want to skip the potential headaches and sell your house as-is for a fair cash price, give us a call at 517-797-0129. We can close in as little as two weeks and we’ll even pay all closing costs!

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