It’s no secret; Fort Lauderdale homebuyers are a savvy bunch. 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 home that is listed for sale. The good news is you might be able to increase your odds of attracting solid offers by offering a closing cost concession.
Homebuyers in today’s market seem to be more in tune to the incremental cost of closing a mortgage loan. According a recent Bankrate.com survey on closing costs, the average homebuyer pays close to $2,400 in closing fees on a $200,000 loan.
The natural tendency of a home seller is to resist cutting into the profit margin when selling a home. Before you disregard the notion of offering a closing cost concession, consider the advantages.
This inventive kind of offer could bring more Fort Lauderdale homebuyers to your property and allow you to sell your home faster. Statistically, the more homebuyers that are interested in your home, the higher your chances are of getting a better price for your home.
A good number of homebuyers can afford to pay the slightly higher monthly mortgage payments associated with paying full listing price for a home. What might dissuade a buyer is the amount of cash required at closing. By making a closing cost concession (offering to pay closing costs), you might be supplying the extra incentive needed to seal the deal. In the long run, a closing cost concession might work to your financial advantage.
In short, a closing cost concession could dramatically reduce the number of days your home spends on market and increase your chances of a higher sale price. If you’re thinking of selling your Fort Lauderdale home, contact us for a free, no obligation highest price market analysis.