Should You Offer Buyer Incentives When Selling Your House?

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There is nothing worse than feeling stuck in a process like selling your home. Can you imagine wanting to move out of your property but can’t because no one has made an offer for it yet? The worst thing about this is that you’ve probably gone as low as you can get without turning the transaction into a short sale and yet, buyers are still not biting your offer. Then, you see other houses less attractive than yours getting offers from potential buyers. What’s up with that, right?

It almost feels impossible that you will still be able to sell your home. You might want to look at changing real estate agents, though if you’ve already done that, the feeling is that you’re already in a rut. It feels like you cannot do anything about this situation. There’s no worse feeling than that.

Not everything is out of your control. There are things you can do to move your house off the market. But yes, you’ve already improved the curb appeal, repainted the interiors, and lowered the price. What else can you do, right?

Throw in the Furniture or Car Along with the House

You can invite more buyers to take a second look at your property if you are going to throw in some furniture pieces and even your car into the mix. Of course, you can only do this if you can recuperate the amount of the things that you will lose in the sale. Some buyers want a kind of buy-one-take-one deal where they will also get a new vehicle by buying a home. This especially works for families moving in from out of state. This means they won’t have to struggle to buy a new vehicle anymore.

Have the Home Pest-controlled

Families with kids will want to move into a home that is free from pests. Call a residential mosquito control service to estimate how much you have to spend on this. This is minimal compared to the amount that you are asking for the house. Make sure to list this as one of the benefits of making an offer for your property. Make sure to tell the buyer that you will only have the home fumigated a week before they are ready to move in. This way, they can enjoy the property in its cleanest and most pest-free state.

house for sale

Offer an Interest Rate Buy-down

Interest rate buy-down is when the seller will offer the buyer’s lender discount points that will help bring the interest rate of the loan down. This is a big deal for the buyer and might make them want to offer for your house in an instant. They will gladly take you up for your offer because they don’t want to guess the right time to lock the interest rates anymore. As you know, the bank’s interest rates can change without notice every day.

Common sense dictates that if they buy your home with an interest rate buy-down offer, they are getting the best rate in the market. Plus, they will also save money on their monthly payments over the entire term of the loan. These seller-paid points are also tax-deductible.

Pay for the Closing Costs

Homebuyers already have to pay between 3% and 6% of the loan amount. That is the down payment. By this time, they are already scraping the bottom of the barrel in terms of their savings account. The problem is that once they close the deal, they also have to pay the loan fees, escrow services, and title insurance.

These are on top of the down payment they already paid in cash. Smart sellers will offer to shoulder the closing costs. In effect, this gives back part of the down payment to the buyer.

Shoulder the Homeowners’ Association Fees

The reason why buyers may not be considering your house is because it is in a homeowners’ association (HOA). The monthly charges can sometimes be overwhelming. What you can do is to offer to pay the HOA fees at least for the next two years or so. You can also throw in the property taxes and the home insurance fees. If you make this offer, make sure that it is prominently displayed on real estate ads.

Make your home a standout by offering incentives that buyers cannot turn their backs from. Buyers want nothing but to save their money, whether in the form of tax cuts or interest rate buy-down. You can also offer simpler incentives such as a used car and home furniture to make your property more attractive.

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