Contrary to what might have been expected, the drastic drop in home sales did not lead to a sharp drop in prices. In fact, according to the Professional Association of Real Estate Agents of Quebec (APCIQ), the volume of sales of single-family homes over the past year fell by 9%, while the average price increased by 2%.
In this context, a seller must demonstrate originality by improving his offer so that it is more interesting in the eyes of the buyer. In short, make him an offer he can’t refuse. This practice is now part of sales strategies. The law of the market demands.
The strategy: help with acquisition costs
It’s about money, of course. A motivated seller will combine his offer with the possibility of assuming expenses that are usually borne by the buyer. Here are some examples.
Generally, these fees are in the range of $1500 to $3000
This amount varies depending on the value of the home and the municipality where it is located.
Financial institutions often pay for this appraisal themselves to ensure they are investing in a building at a fair price. If they don’t, the seller can take responsibility.
Depending on the extent of the work to be done and the distance between the two properties, these costs can be in the order of several thousand dollars.
The seller may offer to carry out works at his expense, according to the buyer’s specifications, in order to arrange the home to the buyer’s convenience.
The development of the land is also part of the expenses that the seller can assume. It can even provide the buyer with gardening equipment.
- Purchase of household appliances, furniture, electronic devices, etc.
Prepare your home for sale
Before you put your property on the market, invest time and money in showing it. Make minor repairs, refresh the paint and make sure the house is clean and well maintained. Creating a positive first impression is essential, as there’s no point in offering a cash bonus if you can’t attract potential visitors to come view the home.
In conclusion, faced with a real estate market in constant evolution, it is essential that home sellers stand out by offering an economic bonus, in the form of help with acquisition costs. There are, therefore, many expenses that a seller can assume without having to reduce the sale price of his house. Up to what amount? This is directly related to your desire to sell your property quickly or not. If your financial situation urgently requires it, he will offer a lot. On the other hand, if there is no rush, your offer will be minimal, if not null.
· Set a realistic selling price based on your market, this will help you a lot with the sale.
· Sign a confidential written agreement that will specify the purpose of your agreement.
· The seller must establish the guidelines he wants to respect before discussing with the buyer about the expenses he is willing to assume.
· Reimbursement of expenses only with presentation of invoices.