Four simple ways to sell fast

Sep 23rd, 20091 Comment134 Views

If you’re having trouble landing a buyer for your home, maybe you need better bait. Crafty home sellers know incentives are the prize at the bottom of the box. By offering buyers something a little different, they can improve their chances of selling their homes quickly and for the price they want. Here are just a few of the ways home sellers can sweeten the deal with extras.

1. Cover the buyer’s closing costs
Many buyers, preoccupied with saving enough cash for their down payment, overlook their closing costs which, at between 3 and 6 percent of the sale price, can amount to several thousand dollars extra. Offering to pay them on behalf of potential buyers may be just the push they need to close the deal.

2. Help the buyer get a better mortgage rate
Another potential deal sweetener is to offer to purchase discount points on the seller’s mortgage. Discount points are purchased up front in order to secure a lower interest rate on a mortgage — the more that are purchased, the lower the rate. In most cases, one point is equivalent to one percent of the loan amount and will reduce the interest rate by .25 percent.

Discount points may make your home more attractive to buyers in that their monthly payments over the life of the mortgage will be lower. Plus, it enables you to advertise your home with the offer of “below market financing,” which may draw in more potential buyers.

3. Throw in some freebies
If you’re planning to purchase new furniture, appliances, curtains or light fixtures for your new place and the ones at your current home are i n good condition, try including them as value-adds in your purchase agreement. This works particularly well with first-time home buyers who may not have much furniture of their own. Plus, leaving some things behind may even reduce the overall cost of your move.

If you don’t want to part with any of your possessions or fixtures, another low-cost incentive is to include a home warranty. Offered through insurance companies for around $400 (depending on the extent of coverage), home warranties are contracts that cover the cost of replacing or repairing major appliances that break during the first year after the sale of the home. Plumbing, electrical and heating systems may also be included under the home warranty.

Other attractive incentives that may lure buyers in are gift certificates, golf club memberships, airline tickets and even cars. These types of incentives do cost mon e y, but they can go a long way in helping to get your home listing noticed. You may also consider offering them to your real estate agent as an added incentive to finding a buyer.

4. Overcome objections or problems
A less glamorous but often equally effective tactic to help close a sale is to offer to rectify any concerns a potential buyer may have with your property. Something as simple as offering to repaint the front steps, re-sod the lawn or adjust the move-in date might push a potential buyer off the fence. You can either offer to make the improvements yourself or to include a renovation allowance in your purchase agreement.

About Author:

Fred Romano is a top listing broker in Connecticut and has been working with CT For Sale By Owners for many years. His expertise in leveraging online marketing for a reasonable low flat fee allows his sellers to save half the commission or more compared to traditional brokers!

One Response to “Four simple ways to sell fast”

  1. Oliver Darraugh says:

    If you want to avoid the long drawn out process of selling your home then you may want to avoid estate agents. Trying to sell this way often involves a long drawn out and complicated process and if you are in a chain, the process of selling may take a great deal longer. If I wanted to sell my house fast I may look into other alternatives such as selling fast with a specialist company offering cash.

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