You may think of winter as a surprising time to sell your home but consider this: those that are needing to move (either for work, space, or a myriad of other reasons) would probably like to be in their new home early in the year. Everyone wants that fresh start around January 1st. In light of those motivated buyers, it may be a good time to review your financial position if you decide to sell your home. Most importantly, consider the out-of-pocket costs versus your return on investment. As a seller, be prepared to pay closing costs and be excited that offering to pay those costs for your buyer will often bring you more money for your home in the end (it’s all about the NET!).
You may be saying, “I’ve got my own closing costs to pay, why would I pay theirs?” The answer is clear; so they can buy your house! Buyers not only pay closing costs, but usually need cash for their down payment, title insurance, home owner’s insurance, appraisals, loan origination fees, filing fees, etc. They must also be prepared to pay for any unexpected repairs revealed during the inspections process. If the buyer asks you to pay closing costs, here’s the good news: if you decide to counter on the original offer, you have the option to counter on the sale price of the home. If it’s all about the net, adjust the price of your home to ensure your net number meets your bottom line.
This should not scare buyers off. Often, a change in the price of the home will only change a buyer’s monthly payment by a manageable amount. In the end, that leaves more cash in the buyer’s pocket to purchase the things needed for their new home like appliances and furniture, or to complete any desired initial cosmetics, like paint.
For everyone involved, this is a win-win solution. It is in everyone’s best interest to walk away from the table with the things they need, and in this case as a seller, you’ve met your bottom line and you’re ready for new adventures. As for the buyer, they’ve just purchased their dream home and are ready to make it their own.
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