I’ve seen in newspaper articles that some home sellers in California or Florida are now including a Mercedes (or other high priced perks) in the sale of the house. Here in Indiana, sellers might not be willing to go that far, but there are some incentives that can be given to the buyer to help sell your home more quickly. Sometimes it takes a little more than another price reduction.
The most common incentives in our area right now are home warranties and seller paid closing costs. I always suggest that my sellers sign up for a home warranty. Buyers are being counselled by their agents to ask for a warranty, so I feel that the seller should put one in place early so that they can take advantage of it if something should go wrong while the home is listed. I have seen many sellers save money by signing up for a home warranty, of course the buyer is happy too!
Many buyers are also asking for closing costs, and it is becoming more common for them to ask for about 3% of the purchase price to help. This is most common with first-time buyers, so if your home is priced in a good range for a first-time buyer, it is good for you to know the offer you get might include this concession.
In this market, it might be beneficial to think outside the box and offer even more to the buyer to get your home sold. Think about what you do for a living. I once had a seller who owned his own lawncare company, it was easy for him to offer free weed and feed treatments for a full season to the buyer of his Camby home. Lawncare is an easy and impressive incentive that isn’t a budget breaker.
Here are some more ideas of incentives that you could offer to encourage buyers to make an offer on your home:
- HOA dues paid for the next year
- Does the buyer have children? Offer a playset or pay for summer camp
- If you have a pool- offer pool service
- gift certificates to a spa
- Live downtown? Offer a bus pass
- How about a snow blower or lawnmower
- Own a vacation home or timeshare? You could offer a stay for 1 week
- Gym membership
- Golf community? Offer a gift certificate to the pro shop or lessons
- Season tickets are always valued
- Does the home need some TLC? A gift card for a home improvement store
- Maid service (I want this one!!)
These are just some ideas to help get the conversation opened up. If you are really serous about getting your home sold and feel that offering more might help, you can try any of these.