Buying houses has become like trading in commodities these days as non traditional sales practices are becoming popular.  The average duration of that a person owns and stays in a house is steadily coming down to around 5 years.  This is like the life a car you own. The house ownership used to be about 25 years in the recent past which is somewhat a major part of your lifetime.  It is also like you go to the showroom to buy a car and after inspecting various models and features select your preferred car, negotiate the price and take a lease for the period of about 5 years or so followed by monthly lease payments. The purchase of houses is now no different from this type of deal.  You just need to visit the vendor, check out the features with the help of an expert and do it till you find the one that you find suitable for your needs.  After discussions and a decision you make a down payment of 10% of the price and have some finance for the rest of the value of the house to be paid in monthly instalments with interest.  You can be in your new home in just 42 days.  

Normally you sell your house appointing an agent who brings prospective buyers to you.  He charges commission as a percentage of the purchase price.  The bank has more control over the terms of the sale.  With the advent of Internet marketing and use of ‘For Sale’ sign, self selling is the much preferred way of selling homes.  The advantage of non traditional sales is you can alter the terms of the sale and keep control to yourself over the sale.   This approach is beneficial since it fetches a price very close to your expected price. This is because the purchaser is focused on getting a foothold on the ownership of the house giving less importance to the price factor.

Now with non traditional sale you have many options:

• You are not in need of the sale proceeds of this house to buy another property.
• Your property may have some serious issues that you want to be done with them quickly.
• You want to use the additional cash form the sale as an additional source of income for investment.
• You may just want cash for your holiday.
• You may not want cash but only a weekly cash flow.
• You may want to cut down you expenditure and find it difficult to pay your mortgage and need to back trade.

In these circumstances you can use your house using any of the three non traditional sales:

• Get 100% finance for your house and take out a 1st mortgage position such as for a $500,00 house you an get $3500 per month cash flow for the next 25 years.
• Achieve a quick sale leaving 30% in the property and take a second mortgage position with a 5% mark up over the market purchase price.
• You can lease your property on Rent to Own (RTO) terms with the purchase option to obtain a weekly cash flow of around twice your normal rent value.

Over the years many different non traditional sale methods have evolved to suit the changing needs of property owners.