Sellers - Should You Offer Homebuyers Incentives? | RealtyPin.com
LOS ANGELES, Feb. 14, 2013 /PRNewswire-iReach/ -- Even though the U.S. housing market is finally starting to take some strides towards recovery, parts of the country are still very much a buyers' market – and are still chock full of people that are scared to take the plunge and give up their rented properties in favor of something that they own outright. So, if you're trying to sell your home, you still need to do something to get your listing to stand ahead of the pack. But does that mean you need to go above and beyond the "traditional" attention-grabbers? That depends on your specific situation. If, for example, you need to move right away in order to start a new job or because you just got divorced, you may not have the luxury or waiting around for the perfect buyer to show up. Or, if you got laid off a few months ago – and it's getting tougher and tougher to make the mortgage payments – you may want to sell your home before you start getting behind (and in danger of defaulting!). Whatever the case may be, if you need to sell your home ASAP, these 3 incentives can make your listing go from "average" to "too good to refuse":
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1. Exotic extras
Ever watch those late-night infomercials where the product comes with all kinds of bonuses? Well, use the same selling tactic on your home! Throw in your fancy big-screen TV, your season tickets to the local sports team (hey, you're not going to need them anymore if you're moving!), or even the title to your car (if you're moving to a city that's got lots of public transportation). That way, your buyer won't just get a new home – they'll get a new lifestyle!
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2. A rent-to-own option
The real estate experts on Realtypin.com recently explained how this process works – and why it can be a great option for buyers who can't qualify for a traditional mortgage (or simply don't want to deal with all of the red tape that goes along with a traditional mortgage). The only potential downside? Your renters may ultimately decide not to buy. However, the extra money they put down is non-refundable, so at least you'll have some extra cash to tide you over while you try to sell the home again.
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3. Offer a cash-back option
This can work especially-well if you're downsizing. Once the buyer takes possession of the home and everything clears finance-wise, you can write the buyer a check for a pre-determined amount of money (like, for example $5,000). It's similar to the cash-back options that car dealers offer to get customers in the door!
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