The Report Every FSBO Must Read: “The BOFS for the FSBO” – 3 Magic Words: Owner Will Carry
Now, some people might think it’s a bit strange for a real estate broker to be writing a post like this, but for where I’m coming from, it makes perfect sense.
Whether you own your property free and clear, or you owe more than your property is worth, I am dedicated to showing you, the “Fiz-Bo” (For Sale By Owner), how to have the “Bo-Fiz” (Best Opportunity For Success) in today’s market.
If you’re a FSBO, then for your BOFS you’d BOSF because you’ll SFOB.
Translation: If you’re a
- For Sale By Owner, then for your
- Best Opportunity For Success you’d
- Better Offer Seller Financing because you’ll
- Sell Fast Offering Banking.
So you need or want to sell, and you want to sell without an agent because:
- You’d like to keep the change in your own pocket, thank you, or maybe…
- You’re a licensed real estate agent or a seasoned investor who doesn’t need any help navigating the territory, or maybe…
- You just plain hate real estate agents, or maybe…
- You think you can’t afford one because you’re practically upside-down and worried that you won’t even be able to sell it for what you owe, let alone pay a commission, and darn it, you just want out from under this thing! If this describes you, the good news is that the bank will pay the closing costs, and you can afford a real estate professional certified in short sales to help you.
Regardless of which category you fall into, chances are you want to:
>Get your price regardless of market conditions
>Have more buyers looking at your property
>Have a competitive edge over the 12 other listings on your block
>Defer any capital gains that may apply
>Maybe monthly cash flow would be nice, with the option to
>Get a lump sum of cash at any time . . .
Do I have your attention? OK, let’s talk.
It’s no secret that the housing market is in a recessionary mode, and that there is a global liquidity crisis. Individuals and corporations can’t get loans. Nationally, there will soon be at least a 12-month supply of houses. This means that the average home, without substantial price reductions, will take a year to sell.
Let’s face it, many buyers are holding back. There is downward pressure on prices, and willing buyers are having a hard time getting financing. That means that when you are trying to sell your property, you are competing with many other sellers for precious few willing and able buyers. How can you give yourself the competitive edge?
Sellers can substantially compensate for whatever is, or is not, happening in “the market” today and create their own liquidity, their own market. Most banks, mortgage brokers and some real estate professionals don’t want you to know this:
Sellers can get top dollar by offering terms
I’d like to teach you some yoga, some fiscal yoga. I’m excited to introduce you to ideas that can increase your economic power through financial flexibility. With a little guidance, there are monetary postures you can hold that you probably never dreamed possible. Learn to meet your financial objectives regardless of market conditions.
Many people are deciding not to sell, thinking the timing is just not good. You, as a FSBO, are obviously trying to sell because you really need or want to, but the offers aren’t exactly streaming in, and you’re wondering if you should take it off the market or reduce the price considerably.
What if there was another option to explore?
If you will advertise your property using these 3 Magic Words: “OWNER WILL CARRY” you will instantly increase your chances of putting a very nice transaction together.
So, what exactly does that mean? Carry what?
Carry the financing–become the bank on your own property. (Read more about this). Instead of the owner, you become the beneficiary. You receive the monthly payments made by the buyer.
By offering terms, you will instantly increase the potential number of buyers for your property.
There are great buyers out there with cash and decent credit that just can’t get a loan right now. For an example of a real life success story, read the whole article.
Here’s how I can help you maximize the seller financing strategy:
- Guide you in selling quickly for top dollar
- Make sure you create a good note
- Buy it from you if you want to walk away with cash
1) Set up a formal consultation for a fixed price where I can look at your situation in depth and recommend a course of action, or maybe several, that you can follow in order to achieve your objectives.
2) When you find your buyer, you can hire me to do the underwriting and make sure you have a real estate note that’s worth holding, or one that will sell for minimum discount in the secondary trust deed market. I’ll help you work with the buyer to see how everyone’s needs can be met. There are many ways to play the game. You just want to be sure that you understand the risks and rewards of any proposed course of action.
3) If your property is in Los Angeles County, you can use me as a discount broker, with many of the perks of representation for a fraction of the price. This includes a custom internet flyer and a dedicated 800# so potential buyers can call and get recorded information 24/7.
4) You can go FSBO for a while, and if you’re still not getting results, you can choose a full listing service (L.A. County only) and have all the advantages of being listed in the MLS and on Realtor.com.
5) Once you close escrow, and you’re holding a great note, you can keep it and collect the payments, or sell all or part of it to raise the money you need at any time. I will always be standing by to buy your note and get you instant cash.