Home Selling in 23430>Question Details

Demples, Home Seller in 23430

Is it more beneficial to offer closing cost assistance or reduce the price of the home.?

Asked by Demples, 23430 Wed Jan 6, 2010

Help the community by answering this question:


Have your agent give you realistic list pricing but still offer the closing cost assistance. You might as well advertise it because in todays market you will probably be asked to pay a portion on closing anyway.
4 votes Thank Flag Link Wed Oct 20, 2010
Price is King when it comes to selling. Keep the price as low as you can stomach. If the buyer needs assistance with closing costs, trust me, they will ask for it. If they do, you can add those amounts to the price.
Web Reference: http://www.phgbrokers.com
1 vote Thank Flag Link Wed Jan 6, 2010
It's not ALWAYS about price. It's about how well does the home show, does the potential buyer understand the benefits of your features, and are there favorable terms? Professional and specialized representation is key, but also what is the buyer's situation? Having Closing Costs paid is attractive to many buyers that may need the cash to get into a home. Some may be attracted to a lower price, but if you want to do one or the other, and you were in a price range where folks are short on cash, I'd offer the closing costs.

It also depends on your competition. In some areas, a little bit will make the difference.
0 votes Thank Flag Link Thu Jan 12, 2012
Since one of the very first things a buyer does is establish a "price limit" that they can afford, our recommendation is to consider decreasing the price because it will have an impact that could potentially bring buyers to the property.
0 votes Thank Flag Link Thu Jan 7, 2010
I agree with Bob. It ALWAYS comes down to the price. As I tell my sellers...I can sell a pink house with orange shutters, a leaky roof on a dirt road for the right price! If you're in a typical market, my hunch is that you'll probably still be asked to contribute to closing costs, but it still makes sense to always have your home priced where it should be. Good luck.
0 votes Thank Flag Link Wed Jan 6, 2010
Typically homes are viewed and purchased based on list price. If you offer closing cost assistance, you may be giving away funds you do not need to. Reduce the price of the home as neccessary.
0 votes Thank Flag Link Wed Jan 6, 2010
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