Foreclosure Seller Tips: Getting Your Asking Price
Market conditions dictate who will have the upper hand. Right now, buyers have all the advantage. With the large inventory of homes for sale, declining home prices and sluggish home sales, you can expect buyers to have the leverage.
Homeowners, especially those who are hoping to sell their homes during the pre-foreclosure stage, should come up with creative ways to attract the attention of potential buyers. But attracting them is not enough. They must be able to agree to pay your asking price, or an amount that is closer to it. In order to accomplish this feat, you should consider the following:
- Offer to Re-decorate: you can always volunteer to have that rec room finished by the time the buyers move in. Or you can save them the trouble by offering to renovate the kitchen, paint the property and install new carpet. All these will certainly make the buyer consider paying your asking price without any hesitations since upgrade and remodeling expenses can be quite costly for them.
- Free Vacation: just like many home builders, offering incentives such as a Caribbean cruise will certainly do the trick. Of course, it does not have this expensive. You can offer airline tickets, amazing spa weekends and some other irresistible freebies.
- One Year HOA Fees: for buyers who are a bit practical, you can choose to offer to pay the association fees for a year.
- Shoulder Closing Costs: this is usually preferred by most sellers. although it is not as creative as the other incentives, you can bet that it will still entice buyers to take the plunge without asking further discounts.
Naturally, you must consider the cost of these incentives before making the offer. But since most buyers are cash-poor, they might find it hard to resist these great offers.