Owner Financing Title Services in Tampa, Plant City, Brandon, Lakeland, New Tampa, Wesley Chapel & Throughout Florida

Owner financing on a home sale is one way to solve the problem when a house or other property has been on the market far longer than anticipated because of stringent lending practices. In essence, it means the seller of a property receives regular payments from the buyer, rather than the lump sum that’s paid out when a traditional lender is involved. These types of home sales are relatively rare, primarily because most people aren’t aware that owner financing is an option.

There are many potential paths to owner financing, including land contracts, promissory notes, lease purchase agreements and more. The real estate pros at Hillsborough Title can explain all the intricate details of each, in addition to providing all the necessary title services to make sure your transaction goes smoothly from start to close.

Of course, not every by owner seller can manage to carry the financing, because most homeowners must pay off the existing mortgage at the time of a sale – a significant expense in many cases. However, if a seller has the means to pay off the remaining mortgage, the benefits of owner financing might include:

• A higher sales price – owner financing gives the seller leverage in price negotiation
• Tax breaks – an installment sale might require reporting only on the income received each year, as opposed to paying taxes on a higher lump sum
• Monthly income – installment payments from the buyer help with cash flow
• Higher interest rate – another negotiable item, which could bring in a greater return than other low-risk investments
• Shorter listing term – opening the sale to owner financing creates a deeper field of potential buyers

Contact Hillsborough Title today for information on how a Florida title company can help with owner financing in Tampa, Plant City, Brandon, Lakeland, New Tampa, Wesley Chapel, South Tampa and beyond.