How Does Selling My Property With Terms Work and Why Is It Becoming a Seller’s 1st Choice When Selling Their Home?

I find myself answering this question on a daily basis, so this is a summary of why selling your home with terms might be your best option - and what fuels our passion for our business. I was a licensed real estate broker for over 25 years in the DC area and have been buying and selling investment property since the 1980s. We’re part of a national group of real estate investors who acquire 10 - 15 properties each month and one thing has become very clear: the market is constantly changing and in order to get Top Dollar for your home, sometimes you’ve got to change with it and be open to options.

Approximately 80% of potential buyers today cannot qualify for financing. That’s a national number that hasn’t improved a whole lot since 2008. Many of those are buyers with good credit looking for a way to buy now while they save for a larger down payment instead of renting while they save. A large portion of our buyers need seasoning as self-employed individuals. Others may be recovering from “life events” (e.g., divorce, job loss, hospitalization, or starting over in a new business or industry) that have caused legitimate dings in their credit, and who are currently taking steps to improve their credit scores through credit repair and enhancement programs we offer. The bottom line is that if you’re selling with a Realtor or on your own, you are only reaching 20% of the market. Our much larger pool of potential buyers produces higher prices and more money for you in the end, and we maintain a qualified database of these buyers who are looking to get into their Dream Home.

We can buy homes all cash with a quick close, but that is typically reserved for distressed properties at a deep discount. Our preference is to purchase move-in ready homes with a lease/purchase or owner financing - both providing a short term cash out for you at Full Market Value. When we meet, we can decide the best purchase option for both parties.

We are NOT realtors offering you a service and you will not pay us any fees. Many assume these types of purchases are only for low-end homes or distressed sales. In fact, in the Washington/Baltimore area, we actually handle home from $250k up to the multi-million dollar range. If you look under Our Properties tab, you’ll see the quality of our homes.

The lease/purchase means we are 100% responsible for all maintenance, repairs, principal and interest payments, taxes, etc. after the first 30 days. If your insurance and taxes are currently escrowed, our monthly lease payment to you will cover them. Your profit is locked in, predetermined ahead of time, and will not change.

If you have no mortgage currently, we can pay you a premium about your Fair Market Value!

Who is this NOT a fit for?

This isn’t a fit for anyone who has equity they need NOW to buy another home and are willing to take less money to free up every dime from the sale. We can still make it work, but that would require a cash-out refinance of your current loan and then securing a lease purchase with us to cover the new underlying loan. It’s been a great solution for our sellers where the refinance generated sufficient cash out for the down payment on a new home, with the balance of the equity being paid to them when the house goes to closing. We can refer you to national mortgage lenders who thoroughly understand the nuances of the “terms” space and can facilitate a transaction like this for you. This scenario offers the best possible outcome - it frees up the cash needed for a down payment while providing you the highest possible return from the sale of your current home!

What does Bright Property Solutions do while I’m waiting to get my cash out at closing?

Simply, we take care of everything, from mortgage payments to maintenance and repairs to dealing with any occupancy issues, so there’s nothing for you to do other than move forward to the next chapter of your life while we care for your property and guarantee 100% of your equity at closing.

What if I have little-to-no equity, am behind in payments, and/or can’t afford to make needed improvements to sell my house?

In most cases we can provide a satisfactory solution and still have you come out ahead vs trying to sell the home yourself or running the risk of damaging your credit. We’re often able to step in and take the property off your hands and put it behind you for good. A free 15-minute consultation can put your mind at ease.

Summary of Advantages:

  • Maximizes your net proceeds

  • Stops the money hemorrhage of mortgage payments, if applicable

  • You still enjoy all the tax advantages of owning your property

  • No advertising dollars out of your pocket

  • Less disruptive/intrusive way to sell your home

  • No fees out of your pocket

  • We don’t care what kind of mortgage you have or what your balance is

  • No inspections and negotiating

Our Partners

Your local partners for the Washington/ Baltimore area are Bill Reich, Pete Klempay, and Richard Sampson, Esq. Please call Kim Winter at (202) 768-8822 to arrange a phone appointment to discuss your options.

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