Buying A Home
hmd
member
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
What incentives for buyer should we offer?
Dh and I have a couple interested in our home, but we haven't listed it yet. We are willing to take a reduced rate or offer a cash allowance if they will purchase it before we list it. Otherwise, we will lose $5000 anyway to the realtor. Their realtor told them the house is $129,900. How low would you be willing to go? Or what combination of price and cash allowance would work? Does the cash allowance just come out at closing?
Re: What incentives for buyer should we offer?
I'm just curious, how did their agent know your house is for sale? And what the price was?
Wow, I would tread very carefully here. Is this agent representing you and the potential buyer?
I agree. It's strange that the buyers agent didn't want you to list it first with her before trying to sell it.
Edited to make sense.
Yeah, seriously agree with pp - if this agent has looked at your house to list it, and brought buyers in to look at it, then you really need to pay him even if you haven't signed with him. He found the buyers and has earned a commission, IMHO. Not sure if he'd have any legal action against you if you excluded him from the deal, but ethically, that is bad.
That's what I was thinking...
Realize that you will have no one looking out for your interests. The agent will be working for the buyers, and owes no duty or loyalty to you. (This is a tough position to be in for the average homeowner.) Are you planning to hire a real estate attorney to review the sales contract?
Back to your original question: incentives are typically offered when interest is low, or when you're wanting to sell in a hurry. If either of these are true, good incentives might be a contribution toward closing costs (if not common in your area), a home warranty for two years instead of one, or an allowance for paint or carpet. It may or may not come out of the settlement; it depends on if you will have any proceeds from the sale. If you don't, you'll need to bring the cash to the closing table. This is considering you have a regular resale (not a short sale).
If you're not wanting to sell in a hurry, or if your home isn't going to have a lot of interest, there's really no point in offering an incentive.
The thing that will sell a home the fastest is the right price. If it's priced correctly, you will have no problem selling. Best of luck to you.