More Effective Ways To Sell Your House Faster

Last week, with the expertise of the Team Move/OVM Financial Blog, we introduced some tactics that home sellers can use to speed along the process and help get their buyers to the closing table.  This week, we have a few more suggestions … focusing on actual creative closing ideas. Of course, it’s always advisable to consult with an experienced real estate agency to determine concepts that will be best for you.

Rent your house from your buyer. Sometimes buyers want to close on a specific home, but aren’t ready to move in yet.  It could be a case of relocating to the area, or possibly having time remaining on a current lease. In these cases where a buyer is still a few months away from move-in day, a seller could offer to rent the property back from the buyer. If speeding up the transaction is of benefit to both parties and the new owners will move in within 60 days, this may be an ideal option.

Pay out the buyer’s remaining lease. In a similar case, if the buyer has a few months remaining on a lease or a 1-2 month early exit penalty and the 2 parties are in general agreement on the value of the property, it may be in the seller’s best interest to help facilitate the transition. A short-term out-of-pocket expense that facilitates an agreeable sale pricemay be worth the trade off.

Include personal property in the sale. It’s not unusual for items like appliances to covey with the property, but what about other big ticket items that might be of interest to the buyer, such a riding lawn mower, pool table, or high-end entertainment center components? If there is personal property you don’t care about keeping, or would like to replace, consider selling it to the buyer. In many cases, the buyer will appreciate getting pre-owned items at a reduced price, rather than spending for new products when they move in.  Keep in mind that many of these non-traditional pieces need to be bought outside of the purchase contract, but these transactions could be another win-win situation.

Be flexible with your closing date. Finally, if your circumstances allow, consider letting the buyer choose the closing date (within reason). Sometimes a few days’ latitude can make a big difference in when the first mortgage payment is due, or how the daily interest is calculated and collected at closing time.

The experienced professionals at Sanford’s Team Move office can provide guidance on these and other aspects of the mortgage process. Please feel free to call 919-774-0114 when questions arise, or its time to plan for a new home purchase.