York: Ideas on successful buyer incentives? (for sale, credit, house)

[CA-PA-TX?]

I know there are all sorts of things- cars, big screens etc. and I know there are closing cost incentives...what are most successful? We are looking for any edge we can get. We are in an area where many medical professionals live- anything specific to that group that may be appealing?

Basic background on our home- it is an older colonial 4/3 on a good sized lot that has all new kitchen and bathrooms, all new paint, updated lighting and hardware throughout the home and we have it staged so we have the "freshen-up" part taken care of already.

[mdb06]

Have a home inspection done NOW! Any buyer will make the sales agreement contingent upon a home inspection, which, if there are defects, usually results in the seller either correcting or giving financial credit towards any major defects that surface when the inspection is done. If you have it done now, you then have the opportunity to correct any defects that show up (that you may not even be aware of) yourself before showing your house, or adjusting your sale price accordingly. You can then advertise your home as having the home inspection already completed and of course make the results available to potential buyers. It gives your home an edge among similar homes because the buyer feels guaranteed that you are not trying to hide anything. The home inspection itself is not costly, but a buyer will appreciate that you have paid for it rather than he/she having to, as is usually the case. Having the inspection completed will also cut down on the time between a pended sales agreement and closing, as scheduling and completing the inspection, and negotiating and correcting defects that surface after pending can take significant time (and headaches!) and are often the cause of deals falling through. I am a Realtor and would strongly suggest you try this. It's a buyer's market right now and you have to do whatever you can to give your home an edge. Good luck!

[CA-PA-TX?]

Thanks so much for that info. I will definitely do that. I had never heard of this being done before a sale- In CA the buyer and the realtor were there with their own inspectors when we sold the home so I thought that was standard. I was actually surprised when they did the inspection without us here when we bought our home in PA but the realtor thought we were crazy when we asked why we didn't need to be there.

Originally Posted by mdb06

Have a home inspection done NOW! Any buyer will make the sales agreement contingent upon a home inspection, which, if there are defects, usually results in the seller either correcting or giving financial credit towards any major defects that surface when the inspection is done. If you have it done now, you then have the opportunity to correct any defects that show up (that you may not even be aware of) yourself before showing your house, or adjusting your sale price accordingly. You can then advertise your home as having the home inspection already completed and of course make the results available to potential buyers. It gives your home an edge among similar homes because the buyer feels guaranteed that you are not trying to hide anything. The home inspection itself is not costly, but a buyer will appreciate that you have paid for it rather than he/she having to, as is usually the case. Having the inspection completed will also cut down on the time between a pended sales agreement and closing, as scheduling and completing the inspection, and negotiating and correcting defects that surface after pending can take significant time (and headaches!) and are often the cause of deals falling through. I am a Realtor and would strongly suggest you try this. It's a buyer's market right now and you have to do whatever you can to give your home an edge. Good luck!

[mdb06]

Glad to help! In PA, the seller, when listing their home for sale, has to fill out a Seller's Disclosure, which "discloses" any and all defects the seller is aware of (water in basement, plumbing problems, etc) plus some general information such as the age and condition of the roof, age of furnace/water heater, any environmental concerns, etc. etc. The buyer receives a copy of that disclosure before making an offer on the home. BUT, there is always the possibility of defects that are unknown to the seller (foundation problems), or the less-than-honest seller. As a buyer's agent I STRONGLY suggest that buyers have an inspection done (it is not mandatory) and I personally always attend the inspections and encourage the buyer to do so as well. I can't understand why your realtor would discourage you from being there.
Make sure you find a reputable inspector. I've seen one go through an entire house in 45 minutes (not good!) while others take 3 hours. You want someone who is thorough enough to find existing or potential problems but not someone who is so compulsive that they write up a burned out light bulb. Ask people you know who have recently bought or sold homes, or if you're working with a Realtor, he/she will have a list of area inspectors.
Personally, I don't like the big screen TVs, etc as incentives. Some people do. To me, that's fluff. I feel if you're selling your HOUSE, any extras should be things that make the house itself more attractive. Anyone can buy a TV.

[teachbeach]

We have friends that offered a higher commission if the house sold within a certain amount of time, and the realtor was motivated to both show and sell the house to prospective clients.

We had a home inspection done, just for the heck of it, best money ever spent on prioritizing what needed to be done, brought up to code and what would have to be disclosed. We weren't planning on selling, but were at the point where we knew there were some issues that needed to be attended to, and the inspector not only pointed them out, but gave suggestions as to how to fix some of them. He was here for 4 hours, charged about $250 and then sent a very thorough report with pictures back to us.

[jdhall1]

Pre inspection is good. I have seen some sellers in my market offer to pay 6 months of property taxes.