Wrap-Around Mortgages Sale
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Wrap-Around Mortgage Sale
The best way to sell a property FAST in Dallas / Fort Worth area,
where the property has some equity (usually 20% or more), is through a Wrap-Around Mortgage Sale. This is a variation of Mortgage Payment Assignment and Owner Financing in which a new loan is created for the buyer, generally with a higher balance and monthly payment than that of the existing underlying loan.
Wrap-Around Mortgage Sale Example
In this example, the property is sold at a premium price by creating a loan that wraps around the existing underlying loan.Because the property is sold with financing, it will generally sell FASTER and at a PREMIUM PRICE. The exact terms, including the interest rate and monthly payment are negotiated with the buyer.
TIn general, properties sold with financing will demand premium interest rates (2-6%) above what lending institutions offer (to those that can actually get loans). Most or all of the down payment will go towards fees and closing costs.
Dallas Property Investors can manage this entire process for you by contracting to buy your property from you, creating the wrap-around mortgage loan and all necessary paperwork, and then resell the property to a buyer that would like to buy a property with owner financing.