Portland, Michigan Homes For Sale By Owner – Whether You Want To Buy A Home Or Sell It
Currently, there are several hundred homes in Portland, Michigan, for sale by owner or FSBO.
FSBOs have become increasingly popular with homeowners who are willing to do a little more work themselves to avoid paying real estate agents high commissions. However, at least in the current Michigan market, finding buyers is not easy.
Many property owners think they can put a sign in their front yard, sit back, and wait for the phone or doorbell to ring. In some areas, that kind of thing happens. It really depends on whether the property is in a “seller’s market” or a “buyer’s market” and more importantly what the sign says.
We all know that in a “seller’s market” one lucky homeowner can end up with a lease on the first open house. In fact, they sometimes end up accepting offers for your property. Real estate agents use the term “seller’s market” to describe the situation that occurs when there are more qualified and interested buyers than there are properties for sale.
Portland Michigan Homes For Sale By Owner
The opposite situation is what you will find in most of Michigan. There are numerous properties for sale and many potential buyers.
In this situation, the buyer has a bit of an advantage, of course; more homes to choose from, better conditions, etc. The seller’s ultimate goal is to get the property off the market, usually as quickly as possible.
This is where unique strategies come into play in today’s Michigan market. Offering your home for lease (also called rent-to-own) will help you find buyers faster because it will open your home up to a much larger pool of buyers.
That’s because while there are plenty of potential Michigan homebuyers right now, many can’t buy their home because they don’t qualify for traditional bank financing: they don’t have a big enough down payment, they often have bruised credit , etc. However, many of them can afford the monthly mortgage payments because they have a good, stable job.
As Michigan real estate investors, it doesn’t matter if you want to buy a home on a lease option or are motivated to sell your home, we can help you. Our experienced team has completed hundreds of rental options in Michigan over the past several years.
Portland Michigan homes for sale by owner range in price from the low $100 to the high $200.
About 25 miles northwest of Lansing, the city of Portland borders Portland Township, but is politically independent, meaning that city owners pay no taxes to the township.
The downtown historic district has been well preserved. Ditto for the famous “Portland Bridges,” a total of four metal truss bridges either preserved in their original locations or relocated for foot traffic on trails spanning the Flat, Looking Glass, and Grand Rivers. It is a beautiful city with a historic “small town” feel.
Property values in many areas have suffered from statewide economic woes. Buyers, again, have the upper hand as values should recover and rise in the coming years. It’s a great time to sell your home on terms that will ensure a faster sale and a great time to stop wasting money on rent, buy a home with a lease option, and repair your credit with the help of experienced real estate investors from Michigan.
The terms of a lease option agreement vary and can be specially designed to meet the needs of both the buyer and the seller. In all cases, a portion of the rent will go toward the eventual purchase of the home, allowing the buyer the opportunity to build equity.
Lease option agreements can attract more buyers to Portland, Michigan homes for sale by owner. People who can’t or won’t make an outright purchase right now, due to bad credit and bank financing hurdles, are often interested in a lease option or “rent to own” deal.
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