Get a Higher Price
(A continuation of How
to Sell a House)
By Steve Gillman - 2006
We continue our look at how to get a higher price with three
suggestions that most seller can use. The first is to simply
include things with your home. This might mean leaving an unattached
pool, including the washer and dryer, or even throwing your boat
into the deal. Here are some ideas on how to analyze these things.
First, what does the buyer want? Suppose he wants the "lifestyle"
your home represents, and that includes your fishing boat. Maybe
he qualifies for a large enough loan to buy your home, but it
would be years before he could save the cash or afford a loan
for a new $8,000 boat. By including a used fishing boat that
is worth maybe $3,000, you might get $4,000 more than the next
buyer would pay. You are helping this buyer achieve his dream
that much sooner.
Another consideration is what your things are worth to you.
You might never consider including your grandmothers rocking
chair, yet be happy to be rid of the clunky yard furniture. You
can wait for buyers to express an interest in extras, or offer
things to gauge their response.
Before you think you are giving too much away, consider the
cost and trouble of moving things too. It might make more sense
to throw in that washer and dryer to clinch the deal, and then
get new ones when you move. For young buyers with little cash,
including these home necessities can make buying a home a lot
more affordable, even at a higher price.
Home Warranty Plans
A home warranty plan is something that you buy for the buyer's
protection. It pays for repairs to major systems, like the heater,
water heater and air conditioning, for a set period after closing.
The coverage period is commonly for a year.
Talk to your real estate agent to see how much this costs
and whether it will help sell your home for a higher price. Ask
if the agent gets a commission for selling you these policies,
though. This is common, and obviously influences their advice.
Pay Closing Costs
One of the biggest problems that buyers face is not financing,
but cash requirements. Even with the newest zero-down loans they
may need several thousand dollars for closing costs. This is
where you can help, and get yourself a higher price in the process.
Let your real estate agent know that you can be flexible on
these things, as long as you get a decent offer. If you are selling
your home on your own, let the buyers know at the right moment.
For example, if you know they are short on cash, and they offer
you less than you want, counter offer for $6,000 more and agree
to pay up to $3,000 in closing costs. This solves their problem
while you get a higher price that covers the cost and
gives you more money in the end.
Another way to make more is covered on the next page...
The book continues here: Lower
Costs - Spend less to sell your home and you make more.
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