2 Incentives To Offer That May Encourage People To Buy Your Home

28 July 2016
 Categories: Real Estate, Blog

If you are about to put your house up for sale and want to sell it as fast as you can, you may need to throw in some incentives to encourage more people to view your home and consider buying it. Here are a couple incentives that can help sell a house faster.

Offer To Pay The Closing Costs

Buying a house is a major purchase, and it requires a lot of money and commitment. When people look for a house to buy, they will base their budget on numerous things. This can include the amount of money they are able to put down on the house, the monthly payments they can afford, and other expenses associated with a house. As buyers contemplate these things, they will also factor in the amount of money they will need for closing costs.

If you advertise your home with the incentive that you will pay the closing costs, you will probably attract a lot more buyers to your home because that will be one fewer This is a huge incentive that many buyers would love to find in a home.

If you do this, you may want to consider adjusting your price slightly higher than you were originally thinking to help cover these costs. The average closing costs for a buyer is approximately 2% to 5% of the value of the home. If your home will sell for $200,000, you can expect these costs to be between $4,000 and $10,000.

Offer To Pay Points

The other really good incentive you could offer to potential home buyers is the offer to pay for their points on the loan they get. To buy a point, you must typically pay 1% of the loan amount. In return, you get a reduction on the interest rate of the loan. This reduction is usually 0.25%. Therefore, if a loan was available at a 5% interest rate, paying 2 points would reduce the rate to 4.5%. If the home cost $200,000, buying two points would cost $4,000 in all. While this is a significant amount of money to pay, it could help you sell your house faster because buyers will want the lower interest rate.

If you want to sell your house quickly, you should begin the process by talking to a real estate agent and checking out the information at http://www.dianestow.com. The agent you hire might be able to offer other tips that will help you sell faster.