Read this article if you want sell your house without lowering the price. Non-traditional measures. Most people and real estate agents are unaware of what non-traditional measures are. Real estate agents are not trained on these measures. So, there are still buyers and sellers out there who are not able to benefit from this opportunity. But Australians have taken on this opportunity and they are doing well!
Vendor or seller financing. As a seller, you would want to sell your house quickly but you also dont want to lower the price to make it sell. But worry no more because vendor financing can make this happen. Vendor financing occurs when a financing option is offered to a buyer. Consequently, the buyer doesnt have to go to a bank and apply for a loan just to purchase a property.
Known as wraps, vendor financed properties are bought by investors through conventional home loans. The investor places the property for sale on the basis of vendor finance terms. Later on, a contract is made between the buyer and the investor. With this procedure, an interest rate of 2% or more is paid by the buyer. Its more than what the investor pays on the original home loan. Thus, the purchasers interest payments wrap around what the investor pays. In sum, the buyer owns a property even if he is unable to do such a thing.
Undoubtedly, many are trying this procedure. Take Meriton for an example. Since their buyers can only afford lesser deposits, Meriton decided to offer this opportunity. Through this, buyers dont have to apply for bank loans. They move in as quickly as they desire. They even get to own the property faster than bank settlements. The seller also has his property sold at the price he truly wants. Thus, it is not only the investor who benefits but buyers and sellers as well.