You may feel frustrated and find selling your College Park, Orlando area house impossible. Before you give up, read this blog. We’ll share some tactics that will help kick-start your efforts to sell your home.

Any of the 6 tips below may be the factor that tips the scale in your favor and seals a possible sale.

Offer incentives

Several types of incentives can work well to promote the sale of your house in a slow market. Buyer incentives, such as:

• A one year prepaid home warranty policy: buyers are making a huge financial investment when they purchase a home. A home warranty covers the cost of repairs of a home’s major systems and appliances. Service Agreements give buyers an important peace of mind that their budget won’t be derailed.

• Offer to pay points: Seller-paid interest rate buy-downs save buyers money on their monthly payment over the life of their loan, and are usually tax deductible, to the buyer.

• Closing cost credits: Offering to pay a credit at closing to defray the buyer’s closing costs is a great financial help to buyers. It can be a key differentiator to make your home much more attractive than nearby listings.

Another type of incentive is a selling agent bonus, which is given in addition to the standard real estate commission. A selling bonus is an effective way to financially entice agents to steer buyers to your home instead of other competing properties.

Monitor the price of your College Park, Orlando home

In a slow market there is downward pressure on home prices. It is, therefore, imperative that you continually monitor your local home prices and adjust the price of your home to stay current to market conditions.

If you do not adjust the asking price of your house, as the overall market prices decrease, your home will become overpriced relative to other comparable homes.

Be flexible

When the market is slow, buyers have the upper hand. There is an oversupply of homes relative to the number of buyers in the market. Buyers can pick and choose the houses in the best condition and offer them the best features and amenities for their money. 

To attract and keep these buyers be flexible right from the start. Accommodate your buyer’s request for showings, even if that means interrupted meals or canceled weekend plans.

When it comes time to negotiate the contract, your willingness to compromise on repairs, comply with your buyer’s requests for a quick closing or additional time to get a mortgage approval are ways that you can seal a deal with your buyers.

Make your College Park home stand out

Highlight a special feature of your home and promote it on all marketing pieces. This will make your home stand out among the others on the market. If your home does not have an outstanding feature, create one.

Make your home memorable with a backyard oasis full of shrubs, flowers, and outdoor furniture or landscape your front yard to create a beautiful curbside appeal. You could also promote your home’s location if it’s close to a downtown area, near a transportation hub or far off the beaten track (ideal for buyers who prefer peace and quiet away from the hustle and bustle of city life).

Offer seller financing

If your house is paid off or if you have a small mortgage balance, one sure way to enlarge the pool of potential buyers and improve your chances of selling your home in a slow market is to offer seller financing.

You can increase the likelihood that your home will sell by helping the buyers in the following ways:

• Can be used if a buyer doesn’t qualify for traditional financing because of employment, bankruptcy or foreclosure.
• Reduces closing costs
• Avoid strict underwriting guidelines
• Makes the purchase process easier
• Can close faster

There are several creative financing options you could offer.

• Take Back a Mortgage: You could require the buyer to give you a 10% or 20% deposit and finance the balance for the buyers. This way you can receive a steady flow of money (principal + interest) every month and the mortgage balance at the end of an agreed-upon date.

• Offer a second mortgage: This is similar to taking back a mortgage. The main difference is that your mortgage would be in a second position, usually after a first mortgage given by a bank or mortgage company.

For example, let’s say a buyer finds a home for sale at $300,000 and has 20% ($60,000) to put down. He qualified for a $200,000 bank loan, so you could carry financing for the remaining $40,000, payable over seven years. This owner-financed mortgage is secondary to the first mortgage from the bank, but is fully enforceable, like any regular mortgage.

In addition to helping you sell your home faster, seller financing can offer you some other distinct advantages.

• Is a form of passive cash flow
• Spreads your tax liability form the sale of the home over the life of the loan
• Ideal to grow your retirement portfolio
• Is secured by the property, so if the buyer fails to pay the mortgage you could foreclose and get the property back

 Sell your house to a professional house buying company

If all your efforts to find a buyer have failed, There is still is a way you can sell your house, guaranteed! Call Fix and Flippers. We are local real estate investors.

We have the experience and capital to purchase your home, regardless of its condition or location. What’s more, we guarantee you a fast and stress-free house sale.

• We will purchase your home as-is, in its present condition, no matter how much work is required.
• You won’t have to deal with home inspections, appraisals or mortgage approvals.
• There are no buyer showings, open houses or Realtor caravans.
• Our process is faster and much less stressful than listing with a real estate broker or trying to sell your home on your own.
• We tell you the truth and always keep our word.
• We have vast experience buying homes in all types of conditions and circumstances.

Sell your house fast even in a slow market by calling Fix and Flippers at 858-386-0949.

Check out the How to Sell Your House in a Slow Market infographic below for a quick summary.

Additional resources on how to sell your house in a slow market.

• 7 Best Home Warranty Companies of 2021 via thisoldhouse.com
• 5 Ideas to Make Your House Stand Out During the Sale via nuwireinvestor.com
• Closing cost credits explained here via lamacchiarealty.com

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