Contrary to expectations, the dramatic decline in home sales did not lead to a steep decline in prices. According to the Professional Association of Quebec Real Estate Agents (APCIQ), single-family home sales volume fell 9% last year, while the average price rose 2%.
In this context, a seller must demonstrate originality by improving his offer so that it is more interesting for the buyer. In short: Make him an offer he can’t refuse. This practice is now part of sales strategies. Market law requires.
The strategy: help with the acquisition costs
Of course it’s about money. A motivated seller combines his offer with the possibility of assuming costs that are usually borne by the buyer. Here are some examples.
Generally, these fees are in the range of $1,500 to $3,000
This amount varies depending on the value of the home and the community in which it is located.
Financial institutions often pay this valuation themselves to ensure that they are investing in a building at a fair price. Otherwise, the seller may take responsibility for it.
Depending on the extent of the work to be done and the distance between the two properties, this cost can be in the order of several thousand dollars.
The seller can offer to carry out work at his own expense according to the buyer’s specifications in order to furnish the house according to his wishes.
Developing the property is also one of the costs that the seller can cover. It can even provide the buyer with gardening tools.
- Purchase of household appliances, furniture, electronic devices, etc.
Prepare your home for sale
Before you put your property on the market, invest time and money in showcasing it. Make minor repairs, freshen up the paint, and keep the house clean and well-maintained. It’s important to make a positive first impression because there’s no point in offering a cash bonus if you can’t get potential visitors to view the home.
In summary, with an ever-evolving real estate market, it is essential for home sellers to stand out by providing a financial bonus in the form of assistance with acquisition costs. There are therefore many costs that a seller can absorb without having to lower the selling price of their home. Up to what amount? This is directly related to his desire to sell his property quickly or not. If his financial situation urgently requires it, he will offer a lot. However, if there is no rush, his offer will be minimal, if not zero.
Advice
· Set a realistic selling price based on your market. This will make selling much easier.
· Sign a confidential written agreement specifying the purpose of your agreement.
· The seller must establish the guidelines they want to adhere to before having discussions with the buyer about the costs they are willing to cover.
· Reimbursement of costs only upon presentation of the invoices.