1. Offer a Decorating Allowance
There may be a buyer that likes your home but just has different decorating tastes. To seal the deal, offer a decorating allowance (for painting, new carpets or wallpaper). You can offer cash at closing, or put money in escrow to reimburse decorating and remodeling expenses made within 90 days of closing, up to a maximum amount.
2. Do a Pre-Sale Inspection (Pest and Home)
This actually works for both the seller and the buyer. By having a whole house and/or pest inspection done before listing the house, you get a chance to address any issues before prospects see the home. That means you increase the homes chances of selling. Display the report during open houses and highlight the repairs that have already been addressed. It’s like seeing the repair history when you buy a used car; it makes you feel better about making an offer because you know the car is in good shape and exactly what has been repaired in the past. By having the home inspected before listing it, people don’t have to guess what kind of condition it is in, they can see it in writing. When you list your home with me we will discuss if you need one or both of these reports.
3. Offer a Home Warranty
A home warranty reassures the buyer that the property is in top condition and gives them comfort knowing that certain future repairs will be covered by insurance. Buyers fear that as soon as they buy the house the dishwasher, dryer, or stove will go on the fritz. A home warranty is an inexpensive way to offer peace of mind to the buyer. I will always be sure that when I am representing you in the sale or the purchase of a home that you will have this feature paid for by me!
4. Cover Closing Costs
Sometimes it takes a little nudge to close the deal. You can offer to pay the buyers half of title and escrow fees, or pre-paid interest charges. Paying the points on the loan may also be a tax deduction for you. Many lenders may limit how much of the closing costs you can pay, but if the buyer is short of cash, offering to pay some closing costs can make a difference.
5. Offer Seller Financing
There are many ways to offer seller financing. Options include putting funds in escrow to cover several months of mortgage payments, buying down the mortgage rate, or carrying a second mortgage to cover the down payment. It is wise not to offer seller financing unless you have consulted a real estate attorney, your CPA and your real estate agent. Make sure that the buyer has good credit. Although this is the least attractive option to the seller to get a deal closed, sometimes it takes creativity and going the extra mile to get your home sold.