Six Practical Incentives To Attract Buyers

[1] Reduce the price: A price reduction is the most common buyer incentive and often it is the one that is looked at first.

[2] Pay points: Sellers can offer to pay mortgage points for a buyer. One point is one percent of the loan amount, charged as prepaid interest.

[3] Down-payment aid: For some buyers, the hardest part of entering the ranks of home-ownership is the down payment. It’s mostly first-time homebuyers interested in this kind of assistance because they’re often the ones lacking in funds to complete a deal.

[4] Help with closing costs: Closing costs include items ranging from taxes to title insurance and can add up, ranging between two percent and seven percent of the loan value. Most buyers would be interested in having a seller help out with this category.

[5] Add a home warranty: A residential service contract is sometimes thrown in as an incentive because it acts as insurance for a home’s systems, often including plumbing, heating and cooling.

[6] Something flashy like a new, large flat-screen TV.