There are currently 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 high commissions to real estate agents. However, at least in today’s Michigan market, finding buyers is no easy feat.
Many property owners think they can put up a sign in their front yard, sit back and wait for the phone or doorbell to ring. In some areas, those kinds of things happen. 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 owner can end up with a contract on the first open house. In fact, they sometimes end up accepting offers on their 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 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 ultimate goal of the seller 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. Listing your home for lease (also called rent-to-own) will help you find buyers faster because it will open up your home to a much larger group of buyers.
That’s because while there are many potential home buyers in Michigan right now, many are unable to purchase their home because they don’t qualify for traditional bank financing – they don’t have a large enough down payment, they often have bruised credit issues. , etc. However, many of them are able to afford their 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 made hundreds of leasing options in Michigan over the years.
Portland, Michigan homes for sale by owner range in price from the low $100s to the high $200s.
About 25 miles northwest of Lansing, the City of Portland borders the Township of Portland, but is politically independent, meaning city property owners do not pay taxes to the Township.
The downtown historic district has been well preserved. The same goes for the famous “Portland Bridges,” a total of four metal truss bridges preserved in their original locations or relocated for foot traffic on trails that cross 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 economic problems throughout the state. Buyers again have an advantage 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 spending money on rent, buy a home on lease, 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 tailored 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 capital.
Lease option agreements can attract more buyers to Portland, Michigan homes for sale by owner. People who are unable or unwilling to make an outright purchase at this time, due to bad credit and the hurdle of bank financing, are often interested in a lease option or “rent to own” arrangement.
