September
2
September 2nd, 2011
by
Kerigan Marketing
As everyone knows, home values have significantly decreased in the past 5 years. Short sales and foreclosures have greatly affected values. So how do you compete to get your home noticed and under contract? Offer buyer incentives. Here are 4 great tactics from Trulia.com.
1. Offer the buyer an interest rate buy down. What that means is the seller offers to pay points to the buyer's lender at closing to buy down the interest rate on the buyer's mortgage. What buyer doesn't want a lower interest rate? This also helps take away some of the buyer's stress of locking in a rate which can make a buyer hesitate to buy. An interest rate buy down also saves buyer's money throughout the life time of the loan because their payments are lower. Additionally, the seller paid points are usually tax deductible for the buyer.
2. Give the buyer a closing cost credit to help pay closing costs. Many buyers are having to scrape together higher down payments. Closing costs to the buyer can range from 4% up to 6% or 7%. Help with those costs from the seller can make a big difference for today's cash strapped buyers.
3. Offer to pay HOA dues or condo association dues. Again, today's cash strapped buyers can feel more at ease getting into a home knowing they will have a break from neighborhood or association expenses. Typically, sellers offering HOA or condo association dues payments offer to pay anywhere from 6 to 12 months of dues.
4. Offer broker incentives. Broker incentives are a bonus to the selling broker who brings you an acceptable offer. Most buyers are represented by brokers. When there is a large supply of properties available to show buyers, it helps to have the broker know they will make more money selling your house than the house down the street.
If you have any questions please call us at Beachy Beach (850) 233-4351.
Sincerely,
Chris Charles (850) 866-3720
chris@beachybeach.com
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Tags: panama city beach, short sale, beach show, foreclosure, the beach show, beachy beach, real estate, buyer's incentives, financing, fl, real estate for sale, reo