Things can really get tough for home sellers when we are in a buyers market. However, this does not mean that we will have to settle for the short end of the deal. There are still opportunities where you can work out a good deal with your potential buyer. You can use certain inducements and concessions in order to finally convince your buyer to „sign on the dotted line.“
With things not going your way in the real estate market, it is essential that you exert more effort in order to make some headway without having to be perceived as being a hard sell. Though the market forces seem to be conspiring against you, a great deal is still achievable with proper planning and concessions which you can present at the negotiation table.
Here are some of the effective concessions or inducements which you can consider in order to close the deal with your prospective buyer:
You may offer to pay for the closing cost as a concession to your buyer. This will reduce the amount of equity that he has to raise to complete the home purchase. In most cases, real estate deals are easily sealed once this concession is presented on the negotiation table.
Add on Furnishings
This is a viable inducement when selling properties that are located in areas where relocation is very common. Buyers find a deal appealing when it involves a property that is partly or fully furnished. In some instances, your buyer might find a particular furnishing as interesting. You may throw in this furnishing as extra in order to convince the buyer to close the deal with you.
The use of warranties is purely a judgment call. You may have to assume the cost of ownership of the furnace, dryer/washer or even the roof and foundation. Buyers are more comfortable in buying a property that is covered by homeowner’s warranty.
Gym Memberships, Condo Fees
If the transaction involves upscale properties, you may have to assume this additional cost items in order to clinch a deal with a prospective buyer who is not inclined to shoulder additional cost outside of the home purchase. A fair offer may involve prepayment of these dues for six months.
One way to close a deal in a slow market is to allow your prospective buyer to „test-drive“ the property. The offer involves giving the right to your buyer to rent the property for a fixed duration before they can finally purchase the property. In most instances, a portion of the rent is applied to the down payment to make the offer more attractive to the buyer. This option may present other responsibilities as you will have to shoulder repair and maintenance for the entire duration that your buyer is renting the property.
If you already have significant equity on the property, then you might explore the possibility of seller financing with your prospective buyer. This can defray the amount of money that a buyer has to raise to complete the purchase. There are critical issues that you need to seriously consider when you decide to offer this kind of concession to your buyer. It is essential that you hire a real estate attorney to handle the legal matters.Immobilienmakler Heidelberg Makler Heidelberg
Source by Laurel R. Lindsay