How to sell your home when it's not turnkey

My favorite escrow officer likes to say during signings at closings, “this form makes sure you’re not accepting a car, tractor or any other type personal property as part of the purchase this house.”

While the answer to this should be “no,” it can sometimes confuse things for buyers if they are receiving incentives or credits to purchase a home.

Sometimes there are items, credits or other types incentives, which are included to “sweeten” the deal. The trick is, they cannot and do not add value to the overall real estate transaction. Most importantly, a real estate professional should be sure to send the right message to both a buyer and a seller with regard to buyer incentives of any kind.

There are several ways to offer incentives to buyers, which will help a seller market and sell a home faster and can also help buyers find a home more appealing than the next.

Differentiate your home

You have a custom backyard with custom stainless steel outdoor kitchen, great pool equipment and a great outdoor patio set. It fits your backyard just right. Use this as an incentive in your marketing, allow homebuyers to even “try before you buy” by allowing your Realtor to host an outdoor barbecue and allow open house attendees to see what it’s like to host in a super-cool upgraded backyard.

Offer credits where credits are due

If your bathrooms sports pink floral wallpaper, it may be time to upgrade, but who’s to say what a potential buyer will want? Offer a decorating allowance to buyers. If your water heater is aging, a home warranty credit may be the way to go to eliminate a buyer’s concerns that they will be footing the bill in six months to enjoy a nice hot shower in their new home.

Pay buyer’s closing costs

If you’re home is not selling, you may consider offering to pay buyer closing costs. There are a lot of first-time homebuyers, VA buyers or maybe someone who wants to use that cash to upgrade the floral wallpaper in the bathrooms. Offering to pay buyer’s closing costs can save buyers up-front, out-of-pocket costs, while still allowing you to get top dollar for your home.

Don’t assume homebuyer incentives make you seem like a desperate seller. As long as you’re not using homebuyer incentives to mask an unrealistic price, a buyer will likely not think that your incentives are being used to mask a price that’s too high. If you’re convinced a homebuyer incentive will work for your property, choose one that adds value or counterbalances a deficiency in your home.

Some real estate agents will tell you to list your home at a more competitive price instead of offering a homebuyer incentive to get a quicker sale. That may lead suspicious buyers to wonder what hidden flaws exist in your home. Instead, show them the flaws and offer to remedy them with a credit that faces the objection head-on and helps you avoid a lowball offer.

If a buyer has a good agent, they can show them how the incentives you are offering make sense to their bottom line and how they can be a win-win situation for both parties.

Nicole Solari (Bureau of Real Estate License No. 01952567) is a Realtor who holds the Seller Representative Specialist designation. Reach her at 486-5400 or nicole@solariteam.com.