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Showing posts from December 20, 2011

Cover story: Incentives upgraded in down market - Washington Times

What will it take to get your property sold these days?

An attractive home, in a nice neighborhood, well staged and ready for showings? An attactive price ?
Of course these things help, but cannot assure a sale, let alone an offer.

Many sellers are resorting to various forms of promotions  to entice buyers agents to show/sell their offerings. Other promotions are geared directly towards buyers.

Here is a great article from the Washington Times on some of the various techniques being used.
Cover story: Incentives upgraded in down market - Washington Times:

The article falls short a bit for Chicago area home buyers and sellers. There are some pitfalls to be avoided. Mortgage underwriting guidelines may limit the types (and amounts) of concessions a buyer can take from a seller. Some concessions can have unintended tax consequences for unsuspecting sellers.

Do your homework before agreeing to offer - or accept a seller incentive. Better yet, do your homework, AND check with your lawyer.