Keller Williams Omaha Sellers can take advantage of this great opportunity as well! Contact your KW agent as soon as possible!
In the wake of July’s dismal sales numbers for existing homes, some sellers are reaching into their pockets to sweeten the deal for potential buyers.
Knowing last month’s figures would be ugly because of the expiration of the government tax credit, Keller Williams is launching its own “stimulus program.”
David Conderman, said it’s an alternative to clients repeatedly dropping the sales price.
“We’re going to our sellers and asking them to contribute up to two points of closing costs in order to buy inerest rates down,” said Conderman. “That way, purchasers will be able to get below a 4% interest rate.”
As an example, a buyer could put 10% ($45,000) down on the purchase of a $450,000 home. If the seller then contributes two points ($8,100) on the remaining loan, the rate could lower from 4.25% to 3.75%. According to Keller Williams, that interest rate difference could save $44,698 in tax and cost savings over the life of a 30-year fixed loan.
Inside the Woodlands neighborhood in Leawood, Mark Chapman is offering the financing incentive for his home, which is being listed at $395,000.
His family added appliances and granite countertops to the kitchen, new carpet in nearly every room, and replaced the fence in the backyard. Chapman hopes the offer of purchasing points for a buyer will help someone get off the fence and make an offer.
“We feel like that money would be well spent to attract savvy buyers,” Chapman said. “If you can save a half-percent off your mortgage for 30 years, that can mean thousands of dollars.”
He has extra motivation to sell fast, considering he bought his family’s next house and plans to close at the end of the month. Chapman said the bargain prices and current interest rates were too good to pass up, even if he might be owning two homes for an unknown period of time.
What a great way to move some property! One thing about Keller Williams agents is they are always thinking outside the box to help their clients. This is not only good for the sellers, but obviously for the buyers too. What a great win-win!
Posted by: Brent Mitchell | 08/31/2010 at 02:15 PM