These days, it’s almost too much to ask to sell your house and lot in a market teeming with buyers and get exactly what you ask for it. The reality is that there are some homes that won’t sell right away, either because it’s not the right house for a buyer or it’s not within their price range. There are ways of pushing your home to make it sell faster though, and these are some of them:
Have your home inspected before putting it up for sale. Doing this saves the buyer time, which is essential if you want them to make a decision right away. It also gives the buyer confidence that you’re not hiding anything and that insurance can cover any damage or repair needs. Remember to make a copy of the documents you get after the inspection so the buyer can take it with them and study them.
Offer a ‘décor discount’. Not everyone will love the wallpaper or carpeting that you installed as much as you do, and not all buyers might want to spend money having them removed. If the buyer expresses interest in your home’s entire structure but not your decorating taste, cop them for the amount it would take to change the decorations they want to have removed or changed.
Give them a leasing option. If you’re not in a hurry to sell but are in need of money, one thing you can try is to put your house & lot up for lease and give the lessee an option to buy. What this does for the buyer is give them enough time in the property to decide if they really want to purchase your property. To make things easier, appropriate the rent in such a way that most of the rent money goes to paying your mortgage and a certain amount to a down payment.
Finance their purchase. If your property has substantial equity, you are in a great position to offer seller financing. Before you proceed with this, though, make sure that you’ve consulted a real estate lawyer and your broker, and that you’ve checked how creditworthy the buyer is. Once everything is clear, you have a lot of options you can try, such as getting a second mortgage to help the buyer with his down payment or putting money into an escrow account so that it covers a few months’ worth of mortgage.
Pay for the closing costs yourself. During a home buying transaction, a buyer and a seller have respective closing costs that they need to cover. You as the seller can offer to cover some of the buyer’s closing costs if you can afford them, like the property taxes for the first year or the prepaid interest charges.
Keep in mind that the longer a house for sale sits in the market, the more it loses value, so be sure to adjust where you can and learn to compromise.
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