Good Morning Bigger Pockets! I currently have a VA loan on my primary residence. I've owned it for 1.5 years. Due to life circumstances I put the house on the market 6 months ago. The listing has been live for 180 days and has yet to sell through my real estate agents. They are good at what they do but interest rates have been scaring off potential buyers. I decided to create an ad for the house via Facebook marketplace place and I generated more traffic on my house in 48 hours than my realtors generated in the past 6 months. I have yet to receive a single offer despite a couple price drops in the entire six months my house has been on the market. My house is in-line and competitive with local comps and has quite a few updates and improvements since i've owned it. Here's the quick details. I really need to get this house sold.

Current listing price : $449,900

Interest rate : 4.75%

I currently Owe : $400,000

For my questions.

I have received 2 Seller Finance offers since i started running the Facebook ads less than a week ago for asking price which got me considering seller finance. They both offered asking price. One offered asking price with a $20,000 down payment and atleast a 3 year balloon.

I really need to get this house sold. Do I stick with my realtor for this deal and keep waiting an unknown period of time until I hopefully receive a respectable offer or do I run with the seller finance deal. How does this play out with using my realtor to list my home via Coldwell Banker, even though my ad is what brought the seller finance offer to the table? Should I fire my realtors for this particular sale? I do plan on using my realtors to purchase my next home, so while they would be losing out on commission for the sale of this home, they would get commission a second time from me (they helped me buy this property im selling). Should I give my realtors a heads up about the seller finance deal, and give them a time limit to generate an offer I can accept before accepting the seller finance deal?

Looking for advice here. Also, what do you think of that particular seller finance offer? Again, he offered asking price, with 20k down and a 3 year balloon. We haven't talked about interest rates yet for the deal. What would be a good interest rate and should I request more of a down payment if he is able? The down payment is currently at just under 5% if I did the math right. Appreciate any and all help and information! Thanks

Cody

Columbia, Maryland

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