If it is important to you to sell your Oakland home quickly, and you have an interested and qualified buyer who is not quite ready to take the final step to purchase it, there are some steps that can be taken to engage your buyer to buy your home over the others on the market.  Most of these motivating steps involve a financial reward to potential buyers, and, if you can afford to offer one or more of these options, you may be pleased at the response. Here are a few ideas to consider:

1. Offer To Pay The Closing Costs: These are all the fees associated with the purchase of the home.  Fees are assessed by the escrow company, the lender, the county, etc.. So, while is is traditional for you as the seller, to purchase title insurance on behalf of the buyer, you might couple this purchase with an offer to pay the buyer's closing costs as well.

2. Offer To Pay Points: Points are fees that the lenders charge to furnish home financing.  Generally one point equals 1% of the mortgage balance, so on a mortgage balance of $400,000, the buyer would pay $4000.00 in loan fees.  You could offer to pay this for the buyer as an incentive to purchase the home.

3. Pay For The Home Inspection And/Or The Resultant Repairs Required: Is is usual for the buyer to pay for the home inspection fees-usually because it makes them feel more comfortable engaging their own inspector, and feeling that they know about any issues involved with the home.  If the issues and repair costs are within you comfort zone financially, you might consider paying for some or all of these elements.

4. Give Credits: If you will not have the time, or don't want to take the time, to get involved with all the necessary repairs that are needed on your home before you sell it, give the buyers a negotiated allowance (or credit) in the deal to compensate them for the work that they will have to have done to get the work done. 

As your Oakland and Piedmont real estate agent, my job is to assist you in finding the most reasonable way around these financial issues. 

Posted by Bruce Wagg on


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