Seller Options
You Have Options. We Have Solutions.
Life sometimes takes an unexpected turn. At one time or another, it’s happened to all of us. If you’ve found yourself in a situation where you don’t know what to do, you are not alone. If you need to sell your property, we know how to get this done quickly and professionally. We will provide multiple options for your situation and you can choose the option that works best for your family. Once a game plan is in place, our experienced team is one of the best at executing these plans.
Our team has helped hundreds of property owners sell their properties
Cash ~ Short Sale ~ Lease Option ~ Owner Finance ~ Subject to Existing Finance
Win-Win resolution process strategies put into action for you the homeowner
Cash
This is the most popular option for people we provide solutions for. In this situation, you will not have to deal with tenants, you will not have to handle repairs. Puget Property Solutions will buy the property as is. There are no closing costs or realtor fees involved. This is the fastest and easiest way to get yourself out of a property that you are ready to offload.
Short Sale
If you owe more on your home than it’s worth you may be a candidate for a Short Sale. One of the advantages of a Short Sale is credit recovery. Your credit could recover from a Short Sale in two years, whereas a foreclosure or bankruptcy can take anywhere from 4-10 years. Our process always includes consultation with an attorney at NO cost to you.
Lease Option
Lease Options are a way to buy and sell homes without an immediate conventional mortgage. Often times the seller has a better chance of getting a higher asking price and a higher monthly rent payment for the home on a rent-to-own property. The seller is giving the buyer more value by offering them financing to help with the purchase of the home.
The amount of the non-refundable option deposit is up to the seller. Sellers can either profit at closing when the home is finally sold, or if the renter backs out of the agreement, you’ve still been collecting rent and you may keep the option deposit. The potential for significant earnings can be great.
Here are some features and benefits for the landlord/seller:
- Higher sales price, even in a soft market: More renters who need help with financing a purchase will be attracted to the home. They will typically pay a premium because of the exclusive financing terms.
- Higher Rent: You can ask for a higher rent payment because you are flexible on your financing terms.
- More Cash Flow: More value = more cash in hand.
- Minimum Risk: The non-refundable option deposit is kept by the seller should the renter default or decide not to buy.
- Better tenants: Renting out your home can be stressful because renters can be hard on your home — particularly when they don’t plan to be there long. When you are renting to someone who has a long-term interest in your home, there’s a better chance they’ll take care of it.
- Tax benefits of an owner: For the first few years, the seller is still the owner of the home and gets to reap the tax benefits of homeownership.
- Bigger target market: Sellers can target renters AND buyers.
- Less stress: Having a higher quality renter who cares for the home as if it is their own will greatly reduce your stress.
Owner Finance
Owner Finance is when the owner acts as the mortgage company. This occurs when the prospective buyer cannot obtain funding through a conventional mortgage lender. Sometimes, the family is looking for cash flow as opposed to cash out. This option always results in a higher sales price for the seller.
Subject to Existing Finance
In a subject to the transaction, the buyers take over the payments of the existing mortgage. The buyer does not obtain the bank’s permission to take over the loan. Lenders put special verbiage into their mortgages and trust deeds that give the lender the right to ask for payment in full if they decide to.
Taking a property “subject to” the existing mortgage means that the buyers get the deed but they are not assuming the loan. The loan stays in the original homeowner’s name, but the buyer controls the property and makes the mortgage payments on it.