Incentives to Help YOU Close the Deal!
A buyer’s market can really make things challenging for home sellers. However, this does not mean that you won’t be able to make a good deal on your property.
There are certain inducements and concessions you can offer to help the interested party decide in your favor and close the deal. You have to consider the market condition and adjust accordingly.
In the present market, it is necessary for you to make a bigger effort to get some results without having to create the perception that you are a hard sell.
You have to fight against the market forces to get the deal you want, and for this you have to plan properly and make concessions so you can offer more at the negotiation table.
So what are the incentives you can give to the buyer? Here are some of the inducements and concessions you can consider when selling your property.
Closing Cost – You can consider giving a concession by offering to pay for the cost of closing the transaction. This way, you will be helping the buyer in reducing the equity he/she has to raise for completing the property purchase. Majority of the time, realty deals are easily closed if the seller offers this concession to the buying party.
Add-on Furnishings – Add-on furnishings are a viable inducement in the case of a property situated in an area where relocation is frequent. The deal becomes appealing to the buyer when the property has been partially or completely furnished. In some cases, the buying party may find a particular furnishing to be interesting. If this is the case, you may want to consider throwing in this furnishing as an additional feature for convincing the buyer to seal the deal of the house.
Warranties – Using warranties should be a judgment call. By covering a part of the house with your own warranty, you will be making the buyer more comfortable. The cost of ownership can be on a variety of things. You may have to give a warranty on the dryer, dish washer, or bigger things such as the roof.
Gym Memberships, Condo Fees – If you are selling an upscale property, you may have to throw in a membership, condo fee to make the agreement work with a prospect who does not way to make any additional payments outside the property purchase. A decent offer may be a prepayment for six months.
Rent-to-Own – One method of closing a deal in a bad market is to enable the buying party to “check” your property. With this option, you provide the prospect the opportunity to live in the property for a fixed period of time before finally buying the house. When considering this option, keep in mind that you may have to take care of repair and maintenance during the time you have rented the house.
Seller Financing – In case you already have considerable equity on the house, you may want to consider the option of seller financing. The advantage of this option is that it defrays the capital that the buying party has to raise to get the house. However, there are important things that need to be considered before offering this option.
It is recommended that you seek the advice of legal counsel specializing in real estate for handling the legal side of things. These are some real estate selling tips that you can consider to sell your property in a down market. Who knows, by offering something extra to the buyer, you may be able to get a great deal on your property.