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Trouble Selling Your Home? Try Sweetening the Deal Illinois

If you're having trouble landing a buyer for your home, maybe you need better bait.

Local Companies

James W. Klopfenstein & Associates, Inc.
(309) 673-9111
320 E. Jackson
Peoria, IL

Suburban Village Realty
(847) 337-9236
Barrington, IL

RE/MAX Market
708-254-5815
8728 S. Archer Ave
Willow Springs, IL

RE/MAX Signature North
(847) 863-5295
5135 N Ravenswood
Chicago, IL

Flat Fee MLS
847.543.7822
921 cambridge drive
grayslake, IL

Rent Smart Chicago
(773) 275-2700
5650 N Broadway
Chicago, IL

A Plus Home & bUILDING iNSPECTIONS, iNC.
815-941-2345
749 E. Washington St.
Morris, IL

Prudent Home Inspection
618 334 5785
PO Box
Bethalto, IL

A Plus Home & Building Inspections
(815) 941-2345
749 E. Washington
Morris, IL

Simply Staged Inc.
815-979-3027
Home Stager - Rockford IL
Byron, IL

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A soft real estate market is a lot like the breakfast cereal aisle at the supermarket. Suppose you have two virtually identical boxes of corn flakes. They both offer the same nutritional value, similar taste and can be had for the same price, but, if you had to choose, chances are your hand would gravitate towards the box that that has the Secret Decoder Ring inside.

Crafty home sellers know incentives are the prize at the bottom of the box. By offering buyers something a little different, they can improve their chances of selling their homes quickly and for the price they want.

Here are just a few of the ways home sellers can sweeten the deal with extras.

Cover the buyer’s closing costs
Many buyers, preoccupied with saving enough cash for their down payment, overlook their closing costs which, at between 3 and 6 percent of the sale price, can amount to several thousand dollars extra. Offering to pay them on behalf of potential buyers may be just the push they need to close the deal.

Help the buyer get a better mortgage rate
Another potential deal sweetener is to offer to purchase discount points on the seller’s mortgage. Discount points are purchased up front in order to secure a lower interest rate on a mortgage -- the more that are purchased, the lower the rate. In most cases, one point is equivalent to one percent of the loan amount and will reduce the interest rate by .25 percent.

Discount points may make your home more attractive to buyers in that their monthly payments over the life of the mortgage will be lower. Plus, it enables you to advertise your home with the offer of “below market financing,” which may draw in more potential buyers.

Throw in some freebies
If you’re planning to purchase new furniture, appliances, curtains or light fixtures for your new place and the ones at your current home are in good condition, try including them as value-adds in your purchase agreement. This works particularly well with first-time homebuyers who may not have much furniture of their own. Plus, leaving some things behind may even reduce the overall cost of your move.

If you don’t want to part with any of your possessions or fixtures, another low-cost incentive is to include a home warranty. Offered through insurance companies for around $400 (depending on the extent of coverage), home warranties are contracts that cover the cost of replacing or repairing major appliances that break during the first year after the sale of the home. Plumbing, electrical and heating systems may also be included under the home warranty.

Other attractive incentives that may lure buyers in are gift certificates, golf club memberships, airline tickets and even cars. These types of incentives do cost money, but they can go a long way in helping to get your home listing noticed. You may also consider offering them to your real estate agent as an added incentive to finding a buyer.

Overcome objections or problems
A less glamorous but often equally effective tactic to help close a sale is to offer to rectify any concerns a potential buyer may have with your property. Something as simple as offering to repaint the front steps, re-sod the lawn or adjust the move-in date might push a potential buyer off the fence. You can either offer to make the improvements yourself or to include a renovation allowance in your purchase agreement.

Published on August 21, 2007

Read full article at realestate.com

Featured Local Company

James W. Klopfenstein & Associates, Inc.

3096739111
320 E. Jackson
Peoria, IL

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Advertising	Family	Home Services	Real Estate Resources
Business Services	Fashion	Industrial Goods & Services	Retail & Consumer Services
Career	Financial Services	Insurance	Software
Cars	Food & Beverage	Internet	Technology
Computer Hardware	Franchise	Legal	Telecommunications
Construction	Health	Miscellaneous	Trade Shows
Education	Holidays	Nightlife	Travel
Entertainment	Home Appliances	Online Database	Weddings
Environmental	Home Electronics	Pets	World History