Local Homebuyers May Perk Their Ears at This Concession
Better yet,
homes are selling more quickly – TOM (Time on Market) shrank from 69 days to
42. And prices were rising: the national median sales price in July stood at
$213,500, up 13.7% from 2012.
But this is
not to say that it’s easy to sell a home today. Homebuyers in Salt Lake City and Beyond... are plenty savvy. They won’t overpay for a
home, and if they don’t like your asking price or terms, they are ready to move
on to the next one. But you might be able to increase your odds of attracting
solid offers by front-loading a concession that’s important to today’s Utah homebuyers: paying their closing costs.
What homebuyers seem to be more keenly aware of is the
incremental cost of closing a mortgage loan. According to a trustworthy survey
of closing costs (from Bankrate.com), today the average buyer pays close to
$2,400 in closing fees on a $200,000 loan.
As a home seller, you have a natural resistance to
cutting down your profit margin when closing a real estate deal. Yet this
inventive kind of offer can bring more homebuyers to your property. It could allow you to sell your home faster —
possibly for a better price. The reason? Many homebuyers can afford to pay the
slightly higher monthly mortgage payments that come with paying full listing
price for a house. What might break the camel’s back is a pile of upfront cash.
By offering to pay closing costs, you may supply the extra incentive that can,
in the long run, work to your financial advantage.
Especially if
you need a quick sale because of a professional move or a financial incentive,
the closing cost concession could dramatically reduce the number of days your
home spends on market. If you’re thinking of selling your Utah home this fall,
it’s something to consider.
Also worth considering: calling me today!
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