It is common to think that the asking price of your home is the only thing you can control to make your house more financially enticing to buyers. Fortunately, haggling over the sales price is not the only tool in your financial arsenal. Here are three other ways to make your home more appealing on paper without compromising the price tag.
Common advice for homebuyers is to expect to dump money into the house within the first year. A one-year warranty provides buyers peace of mind that they won’t have to do this. Without the fear of a broken hot water heater or air conditioner potentially looming shortly after closing, buyers will often be more comfortable paying that ‘worry money’ towards the home sale. The good news for you: one-year home warranties generally run well under $1,000 and are less expensive for the seller if arranged by the closing date.
It can be a hassle to arrange an inspection before putting the house on the market and may seem redundant knowing that a buyer is likely to hire their own inspector. However, a preliminary inspection helps both the buyer and seller. If the inspector does identify problems, you can either fix them or adjust the asking price appropriately rather than having to haggle down from your asking price after discovery. Buyers can breathe easy knowing that when they enter into a contract, it is unlikely that a faulty window (or worse) will show up in a report on the home they have already fallen in love with. Presenting potential buyers with recent inspection documentation also provides them with confidence that you have done your due diligence and are not handing them a lemon property.
Closing costs are generally a sizeable expense for both the buyer and seller. Committing to covering some of the buyer’s closing expenses garners substantial goodwill. Although it seems counter-intuitive, offering to cover $1,000 in closing costs generally equates to a better sales price than slashing $5,000 from the asking price. It suggests that you, as the seller, are thinking about the whole process of closing the deal and acknowledges the burden that closing expenses can be.
Talk to your CityWorth realtor for other tips to make your home more financially enticing without changing the asking price. Different areas will have different laws and opportunities that you may be able to take advantage of beyond the ones listed here.
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