Making a Quick Sale in a Slow Market
One of the most important things to consider in a home sale is price. In a slow market, you may want to reduce the price of your home or, at the very beginning, set it at a low price that will generate increased buyer interest.
To speed up a home sale, you may also want to consider a cash incentive, both for the buyer as well as the agent. You could offer the buyer a $1,000 to $2,000 decorating rebate upon closing the deal. It is also not uncommon to offer the selling agent a $500 bonus. However, some brokers, who supervise agents and run real estate offices, may prohibit such incentives, as do some Realtor boards. Be sure to check in advance.
Other common incentives include paying for the property inspection, warranty policy, or having your home preliminarily approved for FHA and VA loans, thereby making it more attractive to a larger number of buyers. You can do so by contacting a lender who writes FHA-insured and VA-guaranteed loans.