How To Get A Seller To Pay You To Buy Their House
Finding a seller to pay YOU to buy their home? It probably sounds too good to be true. Well, I have good news – it’s not! I have developed a real estate investing system that has made me millions. I have now made it my mission to teach these methods to my students to help them reach their financial dreams as well. The key? Finding motivated sellers.
There are many scenarios where you can buy properties from a motivated seller and make a profit. But, the one I will focus on here is what I call the Paid2Buy strategy, a part of my Unlimited Funding Program.
The perfect situation for this type of deal is when a motivated seller has very little equity in their property. It is important to remember that this needs to be a motivated seller, someone who would benefit from a quick close. It may be that they are relocating for a new job, got married, or a host of other scenarios. No matter the reason, they need to get out of the situation they are in, and fast. That is where you come in.
Because they only have a small amount of equity, you will need to educate them on why they will need
to bring money to the closing table. This education phase of this deal is delicate, as you will need to explain to them how working with you will be the best way for them to sell their property fast.
There are other investment strategies that I teach where the buyer does not have to bring any money to the table, but in this method, it works out best for both you and the seller for them to bring some cash to the deal.
The key is explaining effectively to the motivated seller how they will benefit from working with you as opposed to doing a traditional listing with a real estate agent, even if it requires writing them writing a check to you in the end. If they sell their house with an agent, there will be many costs associated with the transaction, like:
- Paying for any needed repairs
- The cost of staging the home
- Fees that will be paid to both the listing and buyer’s agent
- Holding costs during the process of finding a buyer and closing
It is easy to see that this method of selling can get quite expensive. However, working with you, the seller can close quickly, many times in just days, meaning no extra holding costs while they wait. There are also many other money-saving benefits, including:
- No need to do repairs or staging
- No waiting for a buyer
- No commissions to pay
- No inspections to pay for
Ultimately, they are going to have to come up with cash in both instances. The question to ask is if they really want to go through the drawn-out process of a traditional sale, or if they would prefer to write you a check at closing and have the deal done and be ready to move on to the next phase of their journey? In most cases, the essence of time will win, and they will choose a quick transaction. In the end, it is a win-win, the seller sold their home quickly, and you can get paid to take it off their hands.