If you are struggling to sell a house, one of the tactics you can use is incentivizing your potential buyers. Seller incentives come in various ways, but they all have the endgame of sweetening your offer to buyers. Here are some of the incentives that may work.
Share Closing Costs
Buying a home is an expensive venture for most people. Apart from the down payment, the buyer also has to pay for closing costs that include things like mortgage origination fees, appraisal fees, title insurance, property inspection fees, and property taxes, among others.
Individually, each of these costs may be relatively small; taken together, however, they add up to a considerable amount. You can ease a buyer's burden considerably if you offer to pay some of the closing costs.
Throw In Some House Contents
Another incentive is to offer the eventual buyer some of your house's contents, furnishings, or appliances. For example, you may offer the buyer your washing machine, television set, or window coverings. This incentive is particularly welcome if you were planning to upgrade those items anyway. For many buyers, functional items would be more of an incentive than decorative items.
Buy Lender Points
Interest rates are one of the long-term costs buyers who buy properties on mortgages have to worry about. Many mortgage lenders allow buyers to pay some money up front so they can lock in their rates or enjoy lower rates. You can offer to buy these points for your buyer to reassure them that they won't shoulder unreasonable high-interest rates for the loan term.
Be Flexible With Closing Dates
For buyers struggling to close a property purchase deal, a tight closing deadline can be a deal breaker. If it all means the same to you, you can be flexible with the closing deadline to encourage such a buyer to make an offer.
Pay For Some Repairs or Upgrades
Most homes, even those that aren't visibly rundown, require one or two repairs or can do with an upgrade or two. Most buyers make a purchase offer when they already know what they want to change, fix, or upgrade in a house. You can offer to pay for these repairs or upgrades to incentivize your buyers.
The best incentives are those that your buyers find worthwhile but won't cost you an arm and a leg. Talk to your real estate agent about home selling incentives plus any other tips and tricks you can use to sell your home first.