How To Sell A House By Owner Financing In MI – The Step-By-Step Guide

Exploring New Ways to Sell Your Home in Michigan

With changes to the economy in recent years, many homeowners are discovering that there are new ways to sell their homes that weren’t available before. You no longer have to sell through an agent – you can sell on your own or even accept seller financing. If you’re wondering how to sell a house by owner financing in Michigan, keep reading this blog post and we’ll walk you step-by-step through the process. We’ve successfully helped clients in Redford, Garden City, and Detroit navigate this process.

Step 1. Determine Whether You Own the House Outright or Still Have a Mortgage

The first step is to determine whether you have a mortgage. In some states, having an existing mortgage may prevent you from offering owner financing, but in Michigan, it is often still possible. Check with your lender to understand any restrictions.

Example: A client in Garden City had a mortgage but was still able to offer owner financing by working closely with their lender and a real estate attorney.

Step 2. Talk to a Real Estate Attorney for Help in Crafting an Agreement

With seller financing, you act like a bank. The buyer will pay you a down payment and regular monthly payments until the house is paid off. A real estate attorney can help ensure that you comply with all federal, local, and state laws while also protecting your interests.

Example: We referred a client in Detroit to a trusted real estate attorney who helped draft a solid owner financing agreement, ensuring both parties were protected.

Step 3. Market Your House Online and Offline

Once your paperwork is in place, you are ready to advertise that your house is for sale with seller financing. Utilize online platforms such as Zillow, Craigslist, and social media, as well as traditional methods like flyers and local newspaper ads.

Example: A homeowner in Redford successfully marketed their home using a combination of Facebook ads and local community bulletin boards, attracting numerous interested buyers.

Step 4. Work with Potential Buyers

As your marketing efforts bring in potential buyers, work with them to show the house. When someone makes an offer, negotiate the price and terms to find a win/win situation. Ensure all agreements are documented.

Example: In Garden City, a client negotiated a favorable price and terms with a buyer, resulting in a mutually beneficial deal that included a flexible payment plan.

Step 5. Collect the Down Payment and Hand Over the Keys

Once you’ve agreed on a price and signed the necessary paperwork, collect the down payment and hand over the keys. You will continue to own the house and collect payments until it is paid off, at which point ownership transfers to the buyer.

Example: A Detroit homeowner collected a 10% down payment from their buyer and established a 15-year payment schedule, ensuring steady income while helping the buyer achieve homeownership.

Benefits of Selling Through 3D Property Solutions

At 3D Property Solutions, we understand the intricacies of the Michigan housing market and are here to guide you through every step. Whether you’re in Redford, Garden City, Detroit, or any other part of Michigan, our expertise can help you sell your home quickly and efficiently.

Why Choose Us?

  • Expertise: We have extensive knowledge of local markets and can help you navigate complex situations like owner financing.
  • Support: Our team can connect you with reputable real estate attorneys and other professionals.
  • Community Focus: We care about the community and have a track record of helping local homeowners achieve their goals.

Contact us today to learn more about how we can assist you in selling your home!


Selling a home can be complex, but with the right guidance and resources, it doesn’t have to be overwhelming. By following these steps and leveraging the expertise of 3D Property Solutions, you can successfully sell your home through owner financing or other methods, ensuring a smooth and profitable transaction.

If you’re wondering how to sell a house by owner financing in MI , we can help. We might be able to offer you some advice or even work out an owner financing arrangement where we buy your house from you. Talk to our team at (248) 949-1224 or by clicking here to fill out the form.

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