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126 acres with A-frame Home West Monroe NY

126 acres with A-frame Home West Monroe NY

1081 County Rte 11, West Monroe, NY 13167, USA

Area: 126 acres

8.17 acres on Beaver Meadow Lake Smyrna NY

8.17 acres on Beaver Meadow Lake Smyrna NY

cherrywood way, Smyrna, NY 13464

Area: 8.17 acres

14 acre Sandy Creek Gorge Camp Lot Lorraine NY

14 acre Sandy Creek Gorge Camp Lot Lorraine NY

Lot 24 Berry Dr, Lorraine, NY 13659, USA

Area: 14 acres

4 Reasons to Owner Finance Your Property

4 Reasons to Owner Finance Your Property

Are you looking to sell your property using owner financing? Owner Financing can seem a little scary as you don’t get all of your money at once, but there are a lot of benefits to it. Owner Financing is when a property owner agrees to accept installment payments directly from the buyer instead of having the buyer get a loan from a bank. Below we go over four ways you benefit from owner financing your property.

66 acre Hunting Land for sale with Owner Financing available in Annsville, NY!

1. It’s an Investment

Investments are the way of the world, and the king of it is one word; interst. Interest. Interest. Interest. While you don’t get all of your money at once with owner financing, you do get a part of it at each installment with interest. That means that by being patient and waiting longer to get your money you end up making more! Plus it’s always great having an extra check roll in every month!

2. Less Red Tape

When buyers are deciding on a property to purchase there are many different factors they have to look at. One of those is financing. Banks and other financial lenders have different qualifications that the buyer and the property have to meet in order for the buyer to receive the loan. Real estate deals cancel all the time because the buyer was unable to get approved or the property failed an inspection.

When dealing with an Owner Financed transactions, sellers don’t have jump through as many hoops to get their property closed. There are no qualifications involved other than whatever ones you want to include. The decision on whether a buyer can purchase your property rests with you, not a bank or credit company.

3. More Buyers

Since there are less buyer qualifications in owner financing deals, there are more buyers. By opening up your property to being able to be purchased by more people, you are creating a larger market for your property.

A larger market means more buyers, and more buyers mean a better sale price and less days on the market!

4. Tax Breaks

In most property transactions after selling your property, you have to report the overall capital gains you made on it. If your property has appreciated a lot since it was originally purchased, then that might be a large sum of money you have to pay on your taxes. This is an issue you don’t have to worry as much about in Owner Financing transactions.

As you are receiving the money for your property in installments when owner financing instead of all at closing, you end up not paying as much in capital gains. After an owner financed transaction is closed you are able to report it as an installment sale which allows you to spread the gain over several years. So instead of paying the taxes on your capital gains all at once, you are able to pay a smaller amount each year.

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