While interest rates are still very low and mortgages are just a *hair* easier to qualify for, there is still an awful lot of inventory on the West Bank for home buyers to choose from.
Home Seller Incentives
Offer assistance with closing costs
Many buyers, especially first time buyers, have a cash crunch. Assisting them with the out of pocket expenses of closing costs and pre-paids can make the difference between them choosing your home and another. We’ve seen a big percentage of first time buyers that cannot buy a home without this type of help, so offering to assist can put your home at the top of their list.
Also read: Keep Your Bottom Line In Mind
Allow the buyer to assume your flood insurance
With FEMA flood maps up in the air, allowing a home buyer to assume your existing policy can give them peace of mind that they will be getting the best price possible at this time. Also, there is generally a 30 day waiting period for a new flood policy, so assuming yours will allow them to be covered immediately at closing. Keep in mind that you will need to address a pro-ration of the premium if you expect to be paid for the remaining coverage.
Offer a home warranty
A home warranty is an affordable way to provide reassurance against surprise mechanical repairs during that first year following the sale. Prices for warranties range from $425-650, depending on the size of your home and any additional coverages that may be offered. The cost is not paid until the Act of Sale, so there’s no money spent out of your pocket until you get to closing.
Need some advice related to selling your West Bank home? Contact us at (504) 327-5303.