As a buyer, how do you get the seller excited about offering you Owner (or Seller) Financing?
The answer to this question is you must take the time to understand seller financing and then you must take the time to explain the benefits to the sellers. Most people do not understand why seller financing is so valuable.
Even with all this information you may still run into some resistance. Over the years I’ve noticed a few basic reasons why sellers are leery of seller financing.
First, sellers might be hesitant to trust you. To overcome this objection, you can offer to give them other properties as collateral, have co-signers, or pay a higher interest rate. You can also find out what will make them feel comfortable and give it to them if it is reasonable. Or, you can offer the first few months of payments as earnest money or offer to pay a few months up front at closing.
I recently filmed a short video about overcoming this objection:
Second, I’ve found that sellers often fear that the only reason you want Seller Financing is because you can’t qualify for standard financing.
The way to overcome this objection is to show them a few of your plans for the property. Explain why you are excited about buying the property, and how you will make it cash flow.
Here is another short video about overcoming this concern:
Continue your education about Owner and Seller Financing, and it will get easier and easier to educate sellers about this powerful financing tool. Remember, this type of financing is better for the seller than it is for the buyer!
I recently filmed 20 short videos about making money with Owner Financing, you can check them out at www.OwnerFinancingAnswers.com.
