This is not as simple as a “Clear Sale”, but it is not complicated. It is really simple and easy.
For example, you bought a 2,000 square foot house for $200,000. You lived in the house and made regular payments for 10 years and now owe $167,000. An overview of the process is as follows:
- Using our website, you attract a buyer willing to purchase your home for $247,000.
- You hire a real estate attorney to prepare a land contract with all the details including, but not limited to, the buyer’s monthly payment amount covering principal, interest, taxes, and insurance.
- You require the buyer’s monthly payment due two weeks before your mortgage payment is due. If your mortgage payment is due on the 15th day of the month, you make the buyer’s finance payment due on the 1st day of the month so you have plenty of time to make your payment without any cash out-of-pocket.
- You and the buyer close with the real estate attorney.
- You save money, for example, no realtor fees.
- You make money – drawing your equity over the time of the land contract.