Need to Sell? Offer to Pay Closing Costs
March 15, 2013
If you’re ready to sell your home, you’re no doubt eager to find a buyer for your present home. You might have a Kansas City mover on speed dial, and you may have purchased boxes to pack your house. But without an offer on the table, you can’t move forward with your plans.
Nowadays, it’s become increasingly difficult for people to purchase homes. With the resurrection of down payments and closing costs, some people simply can’t afford the expense. As a result, your home may sit on the market for several months. However, there is a way to speed the process.
Buyers may qualify for your house credit-wise, but have trouble coming up with the cash. If you’re motivated and ready to sell, consider paying a buyer’s closing costs. These are mortgage-related fees that a buyer pays his lender. This may include the appraisal, loan origination fee, title search and so forth. Closing costs typically run about 3% of the sale price and this cash is due at closing.
If you offer to pay closing costs, you can pay the entire amount or a percentage – it all depends on your financial situation. This incentive can increase interest in your property and help you find a buyer faster.
(Photo attributed to Flickr member @MyTudut via the Creative Commons license.)
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