If you have a piece of property on the market as For Sale by Owner Albuquerque then you really should consider offering owner financing. Owner financing opens the doors for so many more opportunities and new buyers.
In recent years, the Real Estate Contract (the most common form of owner financing in NM) has earned a bad reputation among the uninformed. Unfortunately, I’ve heard many real estate brokers tell me they would never advise their client to sell using owner financing because it favors either the buyer (or the seller), which is flat WRONG.
Owner financing is one way of selling real estate. A Real Estate Contract is just a piece of paper that states the terms and conditions of buying/selling a piece of real estate. There is nothing evil, or scary about either of those definitions. What matters is how the terms and conditions are negotiated. Every aspect of the process is negotiable between the potential buyer and the potential seller. If a bad deal was negotiated, then a bad deal was negotiated. Know what you want and don’t settle if you don’t have to.
The truth of the matter is that owner financing can be a great tool, but only if it fits for your situation. I’ll be blunt: Owner financing isn’t for everyone, or every situation. But if it is right for your situation the possibilities explode!
There is a huge pool of buyers who have money that are scrambling to find owner financing for a multitude of reasons:
Entrepreneurs who can’t get a traditional mortgage because of a new startup.
Investors who have reached the limit on active mortgages.
Investors looking for low investment for a quick flip.
Family members who need a leg up.
Investment groups with too many moving parts to qualify for a mortgage
To understand more about owner financing, real estate contracts, and the entire process check out our video library. And, best of luck with your for sale by owner Albuquerque listing.