Long-time owners often won't sell below market for cash, but they may sell at a fair price on terms.
Investor play · Free-and-clear owners
Free-and-clear owners: the sellers who can say yes to terms.
An owner with no mortgage can sell for monthly payments instead of a lump sum, which opens deals a cash offer can't. Spur finds free-and-clear properties, stacks a reason to sell, and mails a letter that explains how seller financing could give the owner steady income.
Free forever plan · No card · 20 property searches a month
USPSFirst-Class
Ruth Palmer1880 Kipling StLakewood, CO 80215Scan to see how it works
Ruth P. read how seller financing works · 25 min ago
AI-written for this owner · Mailed in 2 days
No mortgagefilter to find owners who can carry a note
Termsletters that explain income, not discounts
Stackedwith absentee and long ownership
The problem
Cash offers leave the best deals on the table.
Most mail offers cash only, so owners never learn seller financing is an option.
Without data, there's no way to know which owners have no mortgage and can actually carry a note.
How it works
From list to mailbox in one workflow.
Five steps from free-and-clear list to seller-financed deal.
app.usespur.com
See it in Spur
A free-and-clear list in Spur
Sample free-and-clear rentals with long-time owners. Names are partly masked.
Denver metroNo mortgageAbsentee ownerOwned 15+ yrs
- Ruth & Al P.445 Grape St (duplex)Owner in LakewoodFree and clear27 yrs
- Joan T.1290 Garrison St (4 units)Owner in Scottsdale, AZFree and clear22 yrs
- Calvin R.1517 Hearst DrOwner in AuroraFree and clear21 yrs
- Hector & Ruth A.640 Columbia StOwner in Houston, TXFree and clear
- R. Yamamoto Trust2 propertiesMailing in Seattle, WAFree and clearTrust
AI draft for Ruth & Al P. · 445 Grape St
Hi Ruth and Al,
I'm a local investor, and I'm writing about your duplex at 445 Grape Street. You've owned it for about 27 years, and records show it's owned free and clear.
If you're ready to stop managing tenants and repairs, there's an option many owners don't know about: I buy the property at a fair price, and instead of one lump sum, I pay you monthly with the property itself securing the loan. You keep a steady income, without the landlord work, and may be able to spread out the taxes on the sale.
Scan the code for a one-page explainer. Please talk it over with your CPA or attorney too; I'm happy to work with them.
Marcus Hill · (720) 555-0144
Sample data for illustration. Your results depend on your market and filters.
Playbook
How to find and approach free-and-clear owners
A free-and-clear property has no mortgage. That matters because the owner can act as the lender: instead of receiving all the cash at closing, they receive a down payment and monthly payments secured by the property. For many long-time owners, especially retiring landlords, a steady income stream is more attractive than a lump sum, and spreading the gain over several years may have tax advantages through installment sale treatment.
Seller financing lets you pay a fair price, or even full price, and still make a deal work, because the terms do the heavy lifting. It also opens deals with owners who would never accept a cash discount.
Build the list by filtering for properties with no recorded mortgage, then stack a reason to sell: absentee ownership, long ownership, small rentals, or estate and trust ownership. Write about the owner's benefits, steady income without landlord work, in plain language, and encourage them to involve their CPA or attorney.
Use proper documentation. Seller-financed deals need a promissory note, a recorded mortgage or deed of trust, and title insurance. If you later resell on terms to an owner-occupant, federal and state lending rules can apply, so work with a real estate attorney.
8×return on Spur Team every year from one rental with $400/mo cash flow
Terms deals pay every month.
- Spur Team: $588/yr billed annually
- 200 free-and-clear owners × 3 letters = 600 at $1.39 = $834
- One seller-financed rental with $400/mo cash flow = $4,800 a year, about 8× your subscription, every year
Example math. Terms, cash flow, and tax treatment vary by deal. Run your own numbers →
One tool, not four
Spur vs. the usual seller finance workflow
What you needThe usual waySpur
Free-and-clear listData subscription✓ Built in
Owner contact infoSeparate skip tracing✓ Built in
Terms explainer letterRarely sent✓ Built in
Who read the explainerNo signal✓ Built in
Patient follow-upManual✓ Built in
FAQ
Free-and-clear and seller finance questions
What does free and clear mean?
A property with no recorded mortgage or lien from a loan. The owner owns it outright.
Why target free-and-clear owners?
They can offer seller financing, which opens deals at fair prices that a cash discount offer can't.
How does seller financing benefit the owner?
They receive steady monthly income secured by the property, and may be able to spread out the taxes on the sale. They should confirm with their CPA.
Is seller financing legal?
Yes, but it needs proper documentation, and reselling on terms to owner-occupants can trigger federal and state lending rules. Work with a real estate attorney.
How do I find free-and-clear properties in Spur?
Filter for properties with no recorded mortgage, then stack absentee ownership, long ownership, or property type.
Keep exploring
Related plays and guides
Start in minutes. No card required.
Offer terms, not just a lower number.
Find free-and-clear owners in your market and send your first seller-finance letter today.
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