What Financing Options Are Available for PropertyLark Buyers?
Though many of the investors in the PropertyLark home buying network are already backed with cash or other financing, we do deals in a variety of different ways. We work with our sellers to determine the best financing options and we work with our buyers to create the best possible outcomes.
When buying houses through PropertyLark, there are various financing options to consider:
If you are coming to the table with cash, a loan or a line of credit, that gives us maximum flexibility in getting deals done. Most real estate transactions we complete at PropertyLark are cash deals. They are simple and easy, and usually the best option for most motivated home sellers and experienced buyers who want to close as quickly as possible.
There are some situations where a lease option makes the most sense. You can take over the property in a lease-to-own contract, where you pay the homeowner rent for a specified period of time and then have a purchase option once that initial lease period is complete. There are multiple lease option contracts we might put together to best satisfy the seller’s needs and the buyer’s budget. These lease options are better for some sellers and are preferred by some buyers. PropertyLark will work with you to set up the ideal lease option contract when the situation calls for one.
Many contracts we write are assignment contracts. PropertyLark buys houses in a variety of ways. If we have identified a great investment property with a lot of potential, we may purchase it directly and then share it with our buyer network through online listings and text/email notifications. Or, we may identify an excellent property that is perfect for you. We’ll bring the deal to you first, before anyone else sees it. You will have the option to buy it and we’ll set up an assignment contract with the buyer that ultimately assigns the property to you once the title transfer is complete. It allows us to work with the seller on your behalf, while keeping the process as streamlined as possible for both them and you.
Subject To Financing
There are situations where subject to financing is the best solution. You will take over the property while the mortgage loan remains in the seller’s name. You will take over their mortgage payments (or pay off the principal in whatever time frame you see fit). This option is mostly used when sellers are in a state of financial distress (behind on mortgage payments, tax default, pre-foreclosure, etc.), but there are other situations when it’s a good solution that works well for both the buyers and sellers.
There are some deals where you finance the property directly from the owner. This makes sense when they already own the house outright and want to make a little extra on the sale by charging interest payments for a certain period. As an investor, it still allows you to get the property cheaper than in a traditional open market sale. In some situations, it works out very well for both ends if the terms are agreeable.
When you join the PropertyLark home buyers’ network, you get access to exclusive off-market deals that have been vetted and verified as excellent investment opportunities. You let us know what types of properties you are looking for and what your preferred financing options are, and then we’ll help connect you with the houses that meet your needs. This is what being an exclusive PropertyLark home buyer is all about!
To learn more about the PropertyLark home buyer’s network or to see if you qualify, visit our buyer’s site. Fill out the contact form and fill out the brief online questionnaire to submit your application. Once you are part of our network, we’ll start sending the great deals your way and you’ll be able to search our available online listings.