Sealing the Deal: Creative Ways to Clinch a Real Estate Sale

There are several courses of action that Realtors can suggest to overcome obstacles preventing a deal from closing, especially when the buyer and seller are only a few thousand dollars off on the price. The seller could agree, for instance, to pay the homeowner’s association dues for a year or buy down the bidder’s mortgage rate, both of which generally cost less than a price reduction and can make the purchase more affordable for the buyer. The seller also could agree to pre-pay the property taxes in order to reduce the buyer’s cost burden. Meanwhile, if the seller needs more time in the home, the buyer could agree to a rent-back, in which the seller pays the buyer a predetermined amount of rent, which usually amounts to the monthly mortgage payment on a prorated basis. | Read More