Many people that sell their home or property choose to sell it themselves as opposed to going through a real estate agency, bank or lending institution. There are different reasons why they may choose to do this. They may be selling it to a friend or relative and want to avoid or eliminate the middle man.
Another reason may be to avoid having to pay commission to a real estate agent for selling your property. If you’re selling your property for a large sum of money, the commission the real estate agency will earn can be quite substantial. When you are the sell that holds the trust deed on the property sold, things can go smoothly or problems may arise.
If you are not in instant need of the proceeds from the sale, being the “lender” may work out great for you. Many people, however, discover after a certain amount of time that they want to invest in property and need the money. If this is the case, the first question you may ask yourself is, “How do I sell my trust deed?” This is actually something you should consider at the time you sell your property. You may think that acting as a lender will be simple and quick for you and the buyer, but you may want to learn all you can about this procedure before you make a commitment.
If the buyer is having difficulties making the payments, you may tire quickly of being the “bad guy” demanding payments or collecting late fines. If I was considering selling and holding the trust deed for my property, I would research how to sell my trust deed before I signed any legal binding contract.
Even though I may not ever need to sell my trust deed, I’d still want to get all the information I needed ahead of time. There are many sites online that can help me learn the best way to sell my trust deed. You may want to check some of these sites out for yourself. An attorney can also give me information if I want to sell my trust deed and what steps need to be taken.
There are many trust deed buyers around that I can sell my trust deed to if the need arises. Trust deed buyers will not only buy your trust deed, but often they’ll buy just part of it. You may want to go on a vacation, make an investment or just have extra cash available and not want to sell the entire trust deed.
Some mortgage companies will also buy trust deeds. There are always available options if you’re seriously considering selling your trust deed. Check each of them out thoroughly so you get the best deal.