The Commonwealth Blog

Wednesday, September 25, 2019

Close a Deal Faster with Special Offers or Terms

Keeping your home on the market can cost you money. As long as you still own it, you’re responsible for maintenance, property taxes, and utilities. Depending on your situation, a house that doesn't sell quickly can be a weight around your neck. You may find yourself forced to pay two house payments or even unable to accept a new job, start a family, or take the trip you’ve been dreaming of for your whole life.

Are you stuck in a home that seems like it will be on the market forever? There are a few things you can do to encourage buyers to close a deal and sell your home faster.

Pay the Closing Costs

Offering to pay the closing costs is a common strategy for sellers who want to speed things along. Selling a home involves several costs and fees, including things like real estate agent and lender fees and charges for title insurance and home appraisals. When you total everything up, it may run from 2-5% of your home’s value. Many buyers have difficulty saving for a 3% down payment, let alone any additional costs. Offering to pay closing costs can encourage an otherwise reluctant buyer to pull the trigger.

Pay for Necessary Repairs

Did the home inspection uncover a leaking roof, bad wiring, or termite damage? You typically have two options: reduce your price to cover the cost or pay for the repairs yourself. The second option is better from the buyer’s perspective—he or she can be confident they’re moving into a home, not a money pit 

Consider Seller Financing

If you live in an especially depressed market, buyers may have trouble getting a loan. In extreme cases like this, some sellers work the purchase out directly with the buyer. No bank or other lender needs to be involved in this arrangement—the buyer and seller handle it all on their own. You have a right to determine the interest rate, payment schedule, and any penalties that may apply if the buyer defaults. While this allows you, the seller, to offer whatever terms you like to get your home off the market more quickly, it also means you’ll take on all the risks of a lender yourself. Depending on your financial position, this may or may not work for you.

No matter what the terms are, it’s a good idea to have an attorney review the contract before you sign.

Do you need to sell your home off of the market quickly? While it may cost you in the short term, making special offers can help you seal the deal and move on.


Loading Property Compare
Perfect Fit Buyer Registration
Request a Home Evaluation

Mobile Search

Use any internet enabled phone to search every home for sale in our area! More

Homes Like Mine

Find the approximate value of your home by comparing your home’s criteria to homes that are currently for sale.

COMPARE NOW

FREE
Home Updates

SIGN UP

This Week

Open Houses 1064 New Listings 852 Bank Owned 704

These Listings Updated Daily

Boston Real Estate by City

Berkshire Hathaway HomeServices Commonwealth Real Estate | 12 Huron Drive, Natick, MA 01760 | Phone: (508) 810-0700

© 2019 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Equal Housing Opportunity
Information not verified or guaranteed. If your home is currently listed with a Broker, this is not intended as a solicitation.

Terms of Use/Privacy Policy | Agents Only | Library
Built and powered by Constellation Web Solutions