One of the strategies that I have learned at Nouveau Riche Real Estate College is the subject to offer.What it is. "I will buy your home, subject to the existing financing."
Basically, the seller signs the deed to their home over to you, and you can put it in a trust and make yourself the beneficiary.
The trust makes all the payments on the loan, and the seller gets rid of the ownership.
This is a great deal for the buyer of the home. For the seller, it isn't that great of a deal.
This can be a great short term strategy. The buyer only uses the seller's existing financing for like 12 to 36 months.
The buyer then either fixes the home up and tries to flip it, or they do a lease option, where they try and sell the home to another buyer.
This can be a way to get rid of your home, especially if the market is slow. Advantages are, the person buying the home this way, takes over your payments or can catch them up and bring them current.
A person who knows what they are doing and is trustworthy can help you keep or raise your credit score by catching up the payments and making them on time.
This may be an option to sell your home, and if you are interested, I can explain more how it works. This isn't for everyone though.
Thanks,
Burke Bennett
http://www.seidahohomes.com/
208 589 5599
burkebennett@hotmail.com
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