| The competition is fierce and there are more | | | | references both professional and personal. This |
| homes for sale in the bay area than ever before. | | | | strategy can work for sellers who have equity in |
| This market is different than any other market | | | | the property and can wait for some time to get |
| that has been in past years because loans are | | | | compensated for the balance of the purchase |
| very difficult to get. There are all the wrong | | | | price. A very common approach is the option for |
| ingredients in this equation to have a completely | | | | the seller to help with part of or all of the buyers |
| favorable outcome. The million dollar question: How | | | | closing costs as an incentive to purchase a |
| do I sell my home in a down market? Most of us | | | | particular property. There are options of offering |
| think that the selling price and the location are | | | | some sort of vacation package or even a new |
| everything when it comes to selling a property. | | | | car if the deal closes. A better strategy may be |
| The problem that many buyers are facing today | | | | to provide seller credit toward buying down the |
| is getting qualified for the loan and the affordability | | | | interest rate on the loan. This can make |
| of the monthly payments. It may be helpful for | | | | payments much more affordable on a monthly |
| sellers in this market to put themselves in the | | | | basis and save hundreds of thousands through |
| shoes of the buyers to come up with potential | | | | the duration of the loan. The cost to buy down is |
| solutions to their problems. There are some | | | | usually one percent of the purchase price per |
| options for home sellers to get a fair price and | | | | point. This can help buyers to get into the housing |
| help buyers enter the market place at the same | | | | market with an affordable payment. Regular |
| time. There is the option for the seller to carry | | | | marketing efforts will help to bring potential |
| part of the note for the buyer and charge | | | | buyers but they still have to qualify for the loan |
| interest on the loan for a short period. The | | | | and be able to afford the monthly payment. |
| problem with this is the seller is at risk for that | | | | Contact us for more tips and pointers about |
| note considering they would become subordinate | | | | selling property in a down market. Matt Larsen |
| to the primary lender. If the seller chooses to | | | | Team Enterprise is a group of active real estate |
| explore this as an option, they should make sure | | | | professionals in the Bay Area. Contact Team |
| the buyer can attach some sort of asset for | | | | Enterprise Today! |
| security, check the buyer's credit and get | | | | |