Creative Utilization of Seller Contributions
You get a listing, you work with your client to price it right, and you put it on the market. Distressed sale properties come on the market and undercut the price of your listing. You share the new listing information with your client and you discuss lowering the price to combat the direction of the market.
Is there more that you can do for your client than asking him/her to lower their price? Yes!!
Use a seller contribution to buy down a prospective buyer’s interest rate which will lower their monthly payment and increase their purchasing power.
Or let’s say someone makes an offer on your property with 10% down. Why not use a seller contribution, from sale proceeds at the close of escrow, to pay the mortgage insurance premium for the buyer.
Both examples better utilize seller contributions and give hope to people who need some assistance to purchase a home.
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