2) How Do I Overcome A Sluggish Market To Sell
My House?
When a house is stuck in seller's limbo, one way to jump-start the sale is to offer a mortgage subsidy. While the amount of money involved is less than a price reduction, the bottom line is often more attractive to buyers.
The seller offers a fixed dollar amount per month in cash to buy down the mortgage payment. The subsidy could be less for the second year, and even smaller -- if it is continued at all -- for the third year. The total amount of the subsidy would be placed in an escrow account at settlement. A $200 per month subsidy would cost the seller a total of $2,400 the first year. Reducing the buyer's payment by $150 per month the second year would cost an additional $1,800 for a total expenditure of $4,200, considerably less than a $10,000 price reduction, but more likely to attract attention in a slow market. |
Keeping My House In Showcase Shape?
2) How Do I Overcome A Sluggish Market To
Sell My House?
3) What Is The Difference Between A
"Buyer's Market" And A "Seller's Market?"
4) Is It A Good Idea To Put The House On The
Market Through The Holidays?
5) What Is Earnest Money?
6) Why Do I Pay A Commission On The
Sale Of My House?
7) What Is A "Walk Through"
And What Should I Expect?