Novation process
Agreement, prep, listing, buyer contract and closing — tracked as stages.
Novation real estate
A retail-price option for sellers who don't need cash fast.
A novation can get a seller more than a cash offer by selling the property on the retail market. It takes coordination — repairs, listing and closing — so it needs a clear process and one owner.
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The process
Agreement, prep, listing, buyer contract and closing — tracked as stages.
Fit for sellers with equity and time, where a retail sale beats a cash offer.
A higher net for the seller, with you handling the work to get it sold.
Coordinate agent, title and buyer with clear deadlines and an owner.
FAQ
An agreement where the investor works with the seller to sell the property on the retail market, often after light improvements, and earns from the spread.
When the seller has equity and can wait for a retail sale, and a cash offer would leave too much on the table.
Requirements vary by state. Use a local attorney and title company familiar with the structure.
Run novations with a clear process and owner.
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