Contrary to what might have been expected, the drastic decline in home sales did not lead to a sharp decline in prices. Indeed, according to the Professional Association of Realtors in Quebec (APCIQ), the volume of single-family home sales fell by 9% over the past year, while the median price rose by 2%.
In this context, the 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. Market law requires.
Strategy: help with acquisition costs
It’s about money, of course. A motivated seller will combine his offer with the possibility of taking over the costs, which are usually the responsibility of the buyer. Here are some examples.
Generally, these fees range from $1,500 to $3,000
This amount varies depending on the value of the house and the municipality where it is located.
Financial institutions often pay for this appraisal themselves to ensure they are investing in the building at a fair price. If they do not do so, the seller can take responsibility for them.
Depending on the scope of the work 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 work at his expense according to the buyer’s specifications in order to arrange the house to the buyer’s convenience.
Part of the expenses that the seller can take over is the improvement of the land. He can also provide the buyer with garden equipment.
- Purchase of household appliances, furniture, electronics, etc.
Prepare your home for sale
Before you put your property on the market, invest the time and money to show it. Make minor repairs, refresh the paint and make sure the house is clean and well maintained. Making a positive first impression is essential as there is no point in offering a cash bonus if you cannot attract potential visitors to view the home.
In conclusion, given the ever-evolving real estate market, it is essential for door-to-door sellers to stand out by offering a financial bonus in the form of assistance with purchase costs. So there are many expenses that a seller can take on without having to lower the selling price of their home. Up to what level? This is directly related to his desire to sell his property quickly or not. If his financial situation urgently requires it, he will offer a lot. On the other hand, if he is not in a hurry, his supply will be minimal, if not zero.
· Set a realistic selling price based on your market, this will help sales a lot.
· Sign a confidential written agreement that will specify the purpose of your agreement.
· The seller must set out the guidelines he wishes to respect before entering into negotiations with the buyer about the expenses he is willing to undertake.
· Reimbursement of expenses only after submitting invoices.