Home Selling in Waldorf>Question Details

Tina, Home Seller in Waldorf, MD

We're offering no money down or closing cost And our home shows well. It's been two months and no offers.

Asked by Tina, Waldorf, MD Tue May 13, 2008

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7
Pricing is the first thing I'd reexamine, as Karen suggests.

However, assuming your pricing is competitive, make sure that your home is being marketed to those buyers who'd find the no money down or closing costs appealing. Kim's correct that today's typical buyer probably already has some sort of financing commitment. Not that yours might not be more attractive, but it wouldn't be the great selling point you're hoping for.

So: Market to people who'd be interested. That doesn't just mean people who are short on cash. It means people who think they can't buy specifically because they don't have the money for a downpayment or closing costs. You (or your agent) have to go out and find those people. They're not looking on the MLS because they already "know" they can't buy. Most of them are renters, and they plan to continue renting until they can save up enough money. Your job is to find those renters and convert them into buyers. Ask your agent for some suggestions.

And saturate CraigsList; that's a huge potential market for you. Sure, put listings under "Homes for Sale." But also under "Homes for Rent": "Why rent when you can own. No money down. No closing costs. Beautiful 3/2..." etc. And under "Real Estate Services": "Want to buy, but don't have a downpayment? We can help...." And under "Financial Services."

Hope that helps.
2 votes Thank Flag Link Wed May 14, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Gee, I am in Waldorf, and have not heard of this property!- I am sure someone on my team has several buyers that can purchase with no money down - how are you promoting the information? And, I am curious - are you doing the financing?

Bill Wootan - Leader of Team One
Century 21 H T Brown Real Estate
3292 Crain Highway, Waldorf, Md.
301-870-8400 x 207 (D)301-893-6207
Web Reference: http://www.billwootan.com
1 vote Thank Flag Link Wed May 14, 2008
Hello, No money down and closing is great as long as the house is not over priced. have your agent pull all current comps and give another check and make sure your in the price bracket.
1 vote Thank Flag Link Wed May 14, 2008
It sounds like you are offering a financing plan which in my opinion means nothing to most buyers. They already have there financing in place when they look. (or at least they should). People like to get their own financing. They want to use someone they are comfortable with. Not someone the seller suggest. If your house shows well then you should look at the price. Price is what buyers look at these days. They want value and a house that shows well. Good Luck.
Kim
Web Reference: http://www.kimandrenie.com
1 vote Thank Flag Link Wed May 14, 2008
Hello Tina, did you sell your house?
0 votes Thank Flag Link Fri Aug 29, 2008
Mr.Wootan, I just sent you an email.
0 votes Thank Flag Link Wed May 14, 2008
In most places in Maryland, over half the houses that are selling, are taking more than 90 days to sell. Average time on the market is 177 days in my neighborhood. The houses that are selling in 30-60 days are the ones priced below market, and in fabulous condition. If you want to sell in under the average days, you have to be priced accordingly. Buyers are already expecting closing cost help and lots of sellers are offering, so offering help doesn't set you apart, price does.
0 votes Thank Flag Link Wed May 14, 2008
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