Fresh Start Home Sales Explains the Benefits of Owner Financing for Home Sellers
Fresh Start Home Sales, a real estate solutions firm based in Snelville, GA, wants to emphasize the benefits of owner financing for home sellers in Atlanta. Owner financing has emerged as an alternative in home selling because not every home buyer can get approved for a home financing agreement as a result of the strict lending rules of banks and other financial institutions. Owner financing is where the home seller himself or herself finances the home purchase. The seller doesn’t actually provide money to the buyer just like a home financing lender would but rather the seller will extend some credit to the buyer for the purchase of the home, with the down payment subtracted if any. The home buyer will sign a promissory note to the seller that indicates the terms of the lending agreement, such as the interest rate, the repayment schedule, and the consequences if the buyer defaults. This is quite similar to a rent with option to buy arrangement although there are some differences.
One important benefit of owner financing for home sellers is that they get a bigger pool of potential home buyers. This is because there is a large untapped group of potential buyers who aren’t able to qualify for a conventional home financing deal or cannot afford the usual down payment required. There are also many potential home buyers who have a poor credit rating and are working on it but it may take some time for them to boost their credit score to allow them to buy a home and get the necessary home financing. There are also some potential buyers who are down sizing or want to move to another area and want the security of knowing that they may be able to buy the home that they like and would rather not waste their money by simply renting a home.
Another benefit of owner financing for the home seller is that buyers are often likely willing to pay the seller’s asking price to get the chance to rent to own a home. And the seller may actually get to save from some expenses because in such arrangements, it is usually the prospective buyer who will be responsible for the repairs and maintenance. It may not include all costs but it will usually involve most of the routine repair and maintenance expenses that often have to be shouldered by the homeowner.
Fitz Thompson, a spokesperson for Fresh Start Home Sales, says, “We can actually help home sellers with this kind of arrangement because we have developed the reputation of being the best rent to own company for the Atlanta area. We have been helping potential home buyers who lack the proper credit to get approved by a bank for home financing or are still saving for the down payment. We actually have an Atlanta rent to own home program to help these potential buyers. And for home sellers who are willing to take advantage of such an arrangement, we can make it easy for them to find potential buyers and we can even guide them on the proper way to handle such agreements.”
Potential home buyers who want to take advantage of the Fresh Start Home Sales Atlanta rent to own home program can easily sign up through an online form on the company’s website. They can indicate the type of property that they are looking for and the company will show them rent to own options that are available in Atlanta. The potential buyers can view the local Atlanta homes that match what they are looking for. And since the company continues to acquire new homes each month, those who have signed up will get email alerts on newly available properties right away.
Those who are interested in knowing more about selling a house through owner financing may want to check out the Fresh Start Home Sales website or contact them through the phone or via email. Fitz Thompson says, “For those of you who say, ‘I’m selling my house rent to own,’ give us a call to allow us to discuss how we can help you.” Equal Housing Opportunity.
For more information about Fresh Start Home Sales, contact the company here:
Fresh Start Home Sales
Fresh Start Home Sales
2330 Scenic Highway
Snellville Ga, 30078