We buy houses in Colorado. With changes to the economy that we’ve seen in recent years, many homeowners are discovering that there are new ways to sell their homes that weren’t available before. You no longer have to sell through an agent – you can sell on your own or you can even accept seller financing. We are homebuyers in Colorado, and if you’re wondering how to sell a house by owner financing in Colorado, keep reading this blog post and we’ll walk you step by step through the process.
How to Sell a House by Owner Financing in Colorado – The Step-by-Step Guide
Step 1. Determine whether you own the Colorado house outright or still have a mortgage.
In some states, if you have a mortgage, you may not be able to offer owner financing (but you can in other states). So, the first step is to determine whether you have a mortgage or not.
Step 2. Talk to a real estate attorney in Colorado for help in crafting an agreement.
With seller financing, you are essentially acting like a bank. The buyer will pay you a down payment and pay you regular monthly payments until the property is paid off, and then it becomes their house. So, make sure you talk to a real estate attorney to ensure that you are protected and obeying all federal, local, and state laws while also protecting yourself! (If you need the name of a good real estate attorney, get in touch with us and we can make an introduction.)
Step 3. Market your CO house online and offline.
Once your paperwork is in place, you are ready to advertise that you have a house for sale. Be sure to let people know that you offer seller financing. There is no limit to how much marketing you should do – the more you can do, the better.
Step 4. Work with potential CO buyers.
As your marketing captures the attention of potential buyers, work with them to show them through your house. When someone makes an offer on your home, negotiate the price and terms with them and find the middle ground that will ensure a win/win situation. Sign the papers when you and the buyer reach an agreement.
Step 5. Collect the down payment and hand over the keys of your CO home.
Once you agree on a price and have signed the papers, collect the down payment and hand over the keys. In most situations, you will continue to own the house and collect payments until the home is paid off; then, ownership transfers to the buyer.
Sell My House in Colorado
If you need to sell your house in Colorado fast and can’t wait the 3-6+ months it can take to sell your house yourself or through an agent, you don’t have anything to lose by seeing what we’ll offer on your property. We are Colorado home buyers and we offer cash for houses in CO.