If it is important to you to sell your Oakland home quickly in this slower economy, there are many things that you can do to engage a buyer into considering your home first over the competition.  Most of the suggestions revolve around some form of financial reward. If you are in a financial position to do one or more of these things, you may be pleased at the response. While this is by no means a complete list, it provides some ideas.

A Few Ideas to Consider In Motivating an Interested Buyer:

a. Offer to Pay the Closing Costs: Closing costs are all the fees associated with the purchase of the home.  Fees are assessed by the escrow company, the lender, the county, etc..  While it is traditional for you, as the seller, to purchase title insurance on behalf of the buyer, you might offer to pay for the buyer's closing costs as well.

b. Offer to Pay the Points: Points are defined as the fees that the lenders charge to furnish financing.  In general, one point equals one percent of the mortgage balance.  So, on a mortgage balance of $400,000, the buyer would be asked to pay $4000.00 in loan fees.  You could offer to pay this for the buyer to as an incentive to purchase the home. 

c. Pay for the Home Inspection and/or the Resultant Repairs Required: It is usual for the buyer to pay for the home inspection -usually because it makes them more comfortable knowing what the issues are for the home.  If the resultant discoveries and repair costs are within your budget, you might find it simpler to deal with the whole package to assure the buyer of the home's status.

d. Consider Paying Ahead--To make the transition to the new home easier both physically and financially, offer to prepay some yard cleaning services, some basic utilities fees, some security system fees, etc.. The concept is to make the transition a bit easier until they can set their own services in place. 

e. Give Credits--If you will not have time, or don't want to take the time to do all the necessary repairs that are needed on the home, give the buyers an allowance (or credit) in the deal to compensate them for the various problems that will remain when they move in. 

I would be glad to assist you in deciding whether this is a practical and productive step in moving your home sale forward. 


Posted by Bruce Wagg on


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