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

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9
reduce the price of the home - b/c people search by the home price, so more people will find it that way - you can't start negotiations until a buyer finds your home.
2 votes Thank Flag Link Wed Jan 6, 2010
Great post Vicki! Sounds like your market is doing well.
Flag Sun Sep 23, 2012
Lower the price. Even during negotiations, try to keep the price down instead of having a higher price and offering closing costs. The house may not appraise for the higher amount and you are stuck renegotiating again!
1 vote Thank Flag Link Sat Jan 9, 2010
It is extremely important to ensure that your home is positioned to sell. Make sure that your home has been decluttered, necessary home repairs have been completed, kitchens and bathrooms have been updated (if possible), and you have done your homework and know your homes market value. Then determine what the reduce price should be and how much closing cost assistance you are able to provide to the buyer. All of the items mentioned above are beneficial, not only to the buyer, but to you as well. Because this will allow the buyer to purchase the home that they love and you the oppotunity to sell it to them.
0 votes Thank Flag Link Wed Feb 6, 2013
I would lower the price. Buyer's are in a price motivated market and they know it so they will search for the best value. The faster you lower the price, the faster an offer will come forth if your new price is where it should be, The asking price either fuels an offer or does not. Until an offer comes in, usually the pricing stratgegy is off. Best of luck but remember, if you were shopping..wouldn't you go for the best possible deal out there? Be the best deal and you'll get a deal.
Web Reference: http://www.helenoliveri.com
0 votes Thank Flag Link Sat Jan 9, 2010
Buyers are searching by price so by lowering your price, your home will be a better value for the money and that may result inyour home being shown. And you can't get your home sold, until you get the Buyer's thru the door.

You can negotiate the closing costs, once you have a contract.
Web Reference: http://www.WmbgRE.com
0 votes Thank Flag Link Thu Jan 7, 2010
Do both!!
Be the best-priced house on the market for the seller’s price range. The motivation of the seller, the seller’s timeline and their position is key in negotiation process. Be aggressive; offer to pay a percentage of closing costs for the buyer or all closing costs!
0 votes Thank Flag Link Wed Jan 6, 2010
You can't fool the market. Buyers are only willing to pay whatever they're willing to pay, and you can only attract them through the list price. Terms, sad to say, come in a distant second.
0 votes Thank Flag Link Wed Jan 6, 2010
I agree with Vicki. First you have to make sure the home is priced right in this buyer's market to attact showings and get an offer. Depending on your price range, many buyers in this market are still going to ask for closing costs as well. If you are in the upper end where the buyer might be selling a home and has some proceeds to apply to closing costs you may not be asked to cover them. But if you are in a first-time buyer price range, most buyers just do not have the funds to close without your help. But, it all goes back to the fact that you first need to get that offer. From there you may be able to negotiate a higher sales price in exchange for your covering some or all of their closing costs. Just be reasonably certain that the appraisal will justify the price increase. Good luck in your home sale!
Web Reference: http://www.briansklute.com
0 votes Thank Flag Link Wed Jan 6, 2010
I would do both. If your buyer is using an FHA loan your gonna have to give closing costs credits anyways. I'm even seeing conventional loans where the sellers are giving credits back to the buyer.

More than ever people not only want your house but they want YOU to give them something. Its the way it is right now in this market.

Nate in Appleton
0 votes Thank Flag Link Wed Jan 6, 2010
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