Killer Strategies for Selling Your Home
Five years ago, you could sell a home pretty much as soon as you simply thought of it. Property was literally selling before it was placed on the market. Imagine that! Well, things have changed fairly dramatically in the last few years. The golden age of the real estate market has turned into…well, a fixer upper market. Money is tight, sales are way down and values are plummeting.
Should you just throw you arms up in frustration if you are trying to sell your home? Of course not. You simple need to get creative. You need to think outside of the box. I hate that cliché, but it is true in this case. Evaluate the strengths of your position and leverage them to move to the front of the line of properties on the market and get your home sold. Here are a few strategies.
What is the number one problem people have when it comes to buying a home? The down payment. People “stepping up” from one home to another don’t deal with this, but first time buyers do. This presents you with a golden opportunity to make your home stand out compared to those in the area.
The key is to offer to help with the down payment. The way you do this is to loan the buyer the money for the down payment and take a second mortgage. You can even offer to loan them just half of the down payment. It sounds simple, but it really helps their cash flow position. Make sure to include your pitch prominently in your marketing materials.
Another technique you can use to move your home has to do with points. As a homeowner, you know borrowing money is a pain in the derriere. You can take the buyer’s pain and turn it to your advantage. Here’s how you do it.
The key issue with most mortgages is the interest rate. Most people don’t realize it is highly negotiable. You can pay down the interest rate for the loan by paying points up front. As a seller trying to attract buyers, this presents you with a golden opportunity. Instead of cutting you selling price, you can save the borrower tens of thousands of dollars by offering to pay down one or two points on their mortgage. Do you think a buyer would be interested in a home that came with tens of thousands of dollars in interest savings? You be they would.
Standing out from the crowd is the key to getting your home sold. You can use these strategies to get results. If they don’t fit your situation, take the time to think about creative approaches you can offer.
Raynor James writes about selling a house yourself for FSBOAmerica.org where you can get free real estate listings for 30 days for your home.
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