New Visitors Privacy Policy Sponsorship Contact Us Media
Baby Boomers Family Green Home and Auto In Critical Condition Just Starting Out Lifestyle Money
- advertisement -
Bankrate.com
News & Advice Compare Rates Calculators
Rate Alerts  |  Glossary  |  Help
Mortgage Home
Equity
Auto CDs &
Investments
Retirement Checking &
Savings
Credit
Cards
Debt
Management
College
Finance
Taxes Personal
Finance

 

How to entice home buyers today

Can't sell your house? Use persuasion -- in the form of money or lucrative handouts. Here are some popular buyer incentives available in today's buyer's market:

- advertisement -

Down-payment help: As home prices hold steady and credit tightens, more buyers are hard-pressed to put money down on a home. A little help with the down payment can help them over this hurdle.

Mortgage buy-down: Are your buyers nervous about their prospective monthly house payments or the interest rate on their loan? You can lower both by buying down their mortgage; each point you pay equals 1 percent of the loan amount. First-time buyers or young families can often use the help to free up cash to furnish their new home.

Homeowner/condo association dues: Welcome your buyers to the neighborhood by springing for their first year of association dues.

Maintenance fees: If the buyers will be contracting for lawn maintenance anyway, or if they will be required to do so in your community, paying a year of their maintenance fees is money in the bank for them. The same applies to a year of pool service.

Home warranty: As the cost of service calls increases, a year of home warranty coverage is becoming a commonplace incentive to attract buyers. Typical policies cover service to the home's interior plumbing, HVAC, appliances and fixtures such as lights and fans. Typically excluded are pools, hot tubs, sprinkler systems and attic fans. Their only expense: a per-call fee, usually around $60.

Closing costs: What buyer wouldn't welcome some help with those teeth-gritting closing costs (legal, title, filing fees, etc.) that, according to a Freddy Mac estimate, typically run between 2 percent to 7 percent of the loan amount?

Landscaping: Springing for a few shrubs, new turf or other landscaping features can help a buyer feel right at home.

Leave a treasure behind: Some home furnishings, especially those custom-made to fit a part of your house, can be profitably sacrificed if they help close the deal. After all, you likely know where and how to get another one. If the buyers are smitten with it, they may be more inclined to meet your terms if you agree to leave that prized puzzle piece in place.

Bankrate.com's corrections policy
-- Posted: Aug. 30, 2007
 
 
Create a news alert for "real estate sales incentives"
 
 RESOURCES
Home sellers offer incentives
Home values fall nationwide
Buyer incentives from a year ago
 TOP REAL ESTATE STORIES
How to lower your property taxes
Forged signature puts kibosh on home sale
Will mortgage assumption solve crisis?
 

Mortgages
Compare today's rates
NATIONAL OVERNIGHT AVERAGES
30 yr fixed mtg 4.23%
15 yr fixed mtg 3.23%
5/1 ARM 3.45%
Rates may include points
RELATED CALCULATORS
  Calculate your monthly payment  
  How much house can you afford?  
  Fixed or adjustable rate: Which is right for you?  
VIEW ALL  
FINANCIAL LITERACY
Rev up your portfolio
with these tips and tricks.
- advertisement -
- advertisement -

About Bankrate | Privacy Policy/Your California Privacy Rights | Online Media Kit | Partnerships | Investor Relations | Press Room | Contact Us | Sitemap
NYSE: RATE | RSS Feeds |

* Mortgage rate may include points. See rate tables for details. Click here.
* To see the definition of overnight averages click here.

Bankrate.com ®, Copyright © 2014 Bankrate, Inc., All Rights Reserved, Terms of Use.