When you are looking to sell your home, flexibility is required to get it closed – as much as we all hope that our home will sell within a week of listing and at asking price, it is much more likely that this spring and summer will bring a lot of competition to the market; so even if your home is priced right and ready to sell, you may be looking for ways to attract more buyers or help reach the closing table without dramatically sacrificing the sale price of your home.
Two ways you can sweeten the deal for buyers without sacrificing sales price are:
- Offering to pay closing costs – this method has you giving money to satisfy the needs of the lender as well as state and local governments to have ownership transferred. This is especially helpful for first time home buyers or those who have little or no immediate funds for the home purchase. It also is a great point to include in the marketing of the home.
- Offering to buy down the buyer’s interest rate – while this sees less play now with lower interest rates, it is still a viable option for making your home stand out. Contributing 3% of the loan amount (or paying three points) lowers the buyer’s interest rate. A lower interest rate means a lower monthly mortgage payment and means great savings for the buyer that will continue long after closing.
Great information provided by Atlanta Real Estate Forum