Sweeten your deal in a buyers market

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In a “buyers market”, if you want to ensure that your home sells in a timely matter, you need to offer more than competing properties. Some things to consider would be:

Paying down the mortgage rate

You can offer to pay “points” to reduce the rate of your buyers mortage. This can be an attractive offer as rates continue to rise, but you must remember that rates are already historically low, and buyers have already figured out how much they can afford.

Paying closing costs

Well, chances are, if you have your home on the market, you’ll be getting offers than stipulate that you pay closing costs. This is a much better offer to give to potential buyers, as it reduces the amount of “up-front” cash they need to have. Paying down “points” makes a miniscule effect on buyers potential monthly payment, so offering to pay closing costs is a better option.

Pay association fees

This may be better than paying points, but paying your association fees is another “spiff” you can offer to attract potential buyers.

A Home Warranty

A home warranty is a well-tested method of attracting potential buyers. You basically buy a policy that guarantees the structural integrity of your house for a specified period of time (usually 1-2 years).

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