Sellers have the ability to help buyers who don't have the income to qualify for the loan amount, who don't have enough cash for the required down payment and who may have a FICO score that is not all it could be. In today's market, establishing a selling price that would allow the seller to lower the price or to use a portion of the selling price to create buyer incentives offering creative financing solutions is a very important strategy as it increases the probability of making the sale by making more home buyers eligible and by making the purchase more affordable to the buyer. For the real estate agent, just presenting this thinking to the seller makes you a more attractive consultant and gives the seller greater confidence that they are in the right hands with you as their agent.
9 Strategies Sellers Can Offer To Aid The Buyer
1. Seller contributions or concessions to help the financial requirements for the buyer.
2. Seller funded permanent interest rate buy down
3. Seller funded temporary interest rate buy down
4. Seller Second
5. Lease option
6. Lease purchase
7.. Owner financing
8. Contract for deed
9. Wraparound assumable mortgage
Friday I will explain what these options entail so you understand the nuances involved in these 9 strategies. Today, I know that we all must reach deeper to make things happen and to keep the flow of business moving. These 9 strategies are part of what can be done to make the financial structure more appealing to the buyer.
