The 4k was on top of the 3% and it did no good even though realtors got excited by it. I even made a flyer I put in hundreds of realtor boxes all over my city that highlighted the bonus. Hope your market is better than mine because none of this did any good, even though my house is underpriced, staged beautifully, etc., etc. You can’t do much if there are no buyers except rent to own or rent
Sean, making the place appeal aesthetically is always a good thing. But the truth of the matter is that the market is hard for rehabbers targeting home buyers. I would not only give an incentive to the Realtor, but also to the buyer through a Seller’s Assist (where the buyer receives money at closing - perfectly legal) . The max I think that a bank would allow for a buyer seeking a mortgage is around 3%. Offer this in bold print on Craig’s List and any other marketing vehicle of your liking. This will cut their closing costs down thus saving them hard cash for closing.You can even increase the price slightly to offset some of your losses as long as the appraisal makes sense. Good Luck, alot of developers are sitting on properties that they can not move, don’t feel bad.
Hi - I just thought of a program you might offer if is available from your state. Its called Home In 5 - Mortgage Assistance For First Time Buyers. They can be first timers and/or not have purchased a home in 3 years. The buyer gets 5% of the mortage amount to pay for the down payment and/or closing fees. They have to qualify as to income, but I think the ceiling is around $70,000 and the price of the house can’t go over $300,000. You might check this out and see if Colorado has it.
There’s always lease option too. You’ll get some upfront money but may have to wait a couple years for the rest. Renting my be good too.