Sell Subject-To For Full Market Value

Over the course of the last few years, I’ve been selling off my residential properties to focus on commercial investing. Luckily, most of the 1, 2 and 3 unit properties I had were sold prior to the “mortgage meltdown” that happened last year.

I had one duplex left over. One duplex that had lost about 15% of its value. One duplex that was a TOTAL pain in my.. well, you know.

I had a couple of options:

1) Sell it at a loss. (no thanks)

2) Keep it. (no thanks)

3. Try to sell it creatively. (interesting…)

So, here’s exactly what I did.

I put an ad up on Craigslist offering owner financing with no credit check on a cash-flowing duplex. Here’s the exact title of my ad:

$132000 Duplex – Investor’s Dream – No Credit Check

I had 19 inquiries and ended up selling it for FULL MARKET VALUE in 25 days.

The reality is that there are a ton of investors out there who have taken big credit hits. They can’t qualify for conventional financing but still want to acquire properties.  The cool thing is that when you offer seller financing, you are selling on TERMS and not price. So often you can charge a premium.

And that’s how you sell properties for full market value. Even in today’s market.