Tired of waiting around for a buyer to come along and make you an offer? If so, think about ways your could get your home sold by offering incentives. What do we mean? There are little things you could do to make your home more appealing to buyers. Here are some examples:
Buy Down Interest Rates
“Most home buyers today need a mortgage to make a purchase. Banks typically offer buyers an interest rate based on the market at the time they apply. If they want to lock in an even lower rate, buyers can always pay an upfront fee, called a point. Paying upfront is called “buying down the rate,” and sellers can do it for the buyer.
If a bank offers a buyer three percent today on a 30-year fixed mortgage, the buyer (or seller) can pay one percent of the loan amount to get something like 2.75 percent. For buyers, this means lower monthly payments locked in for many years, which is more valuable than a small reduction in the purchase price.” (zillow.com)
Include Some Extras
If you have purchased furniture, window coverings, etc. to fit your current home, consider including some or all of it. This might sweeten the deal and relieve some stress off of the buyer while also freeing you to purchase new items for your new home!
One way to entice buyers is to offer credits for non-recurring closing costs.
“Buyers often come back to the seller after inspections and request repairs to the home. The wish list can include anything from patching roofing to replacing windows and repairing dry rot.
Most sellers don’t want the hassle of repairing these items. If not done right or to the buyers’ specifications, the repairs can hold up the closing — or even haunt everyone post-closing.
One way to incentivize buyers to continue with the purchase is simply to offer them a credit for non-recurring closing costs. This credit goes to the buyer as cash in their pockets at the closing.
Many buyers ask for credits and may not do the repairs for months. It’s better to give them cash and let them do as they see fit with it.” (zillow.com)
Another reason for a credit would be for a “close-by” date. If you are in a time restraint, consider an incentive for closing in a certain time frame. You might want to think about offering a bonus commission to the buyer’s agent as well just to get everyone on board with selling your home.
IT’S UP TO YOU!
There are so many incentives a seller can offer to potential buyers. Discuss your options with your listing agent, and together, you all can find the perfect options for your situation.
If you aren’t sure where to start, please let us help! We know what it takes to get homes sold in the current market. Our agents are continuously studying market trends, what works, and what doesn’t. We would love to have the opportunity to help you sell your home. Call us today @ 720-593-2014.