Selling SFR: Contract for Deed?

General Real Estate Investing
1

I have a pretty home in a great area, free and clear. Have not gotten a buyer though it is priced right.

(I need cash now for another investment debt service.)

Is contract for deed a good way to go for offering seller financing to buyers in this market? (NC State)

Any advice is appreciated on how you would safely structure this for some immediate cash.

Thanks
Oz

2

Selling witha CFD is OK but we need to know how much the place is worth and how much cash you need. Once you have it sold this way you could sell the contract. Easy way would be to borrow against the equity. Herbster

3

I need $20k ASAP.
It is worth $173k. Been asking in the 160’s.
I cannot do a HELOC b/c it has been on market.

4

OZ, The CFD is a good option but if you need 20K ASAP this probably won’t come fast enough for you. As far as a HELOC try other banks. I can’t believe some lender won’t give you a loan for 20K when you have 173K in equity. Maybe you should move this post to the financing forum where you may get a better answer. Herbster

5

If you need money asap, you may be able to sell I land contract (or Contract for Deed) and if structured right (and you are willing to take a sizeable discount) sell the note (or part of) to a notebuyer. I’d check with some notebuyers and let them guide you o how best to structure the deal, as to get the most for the note.

Just a thought…