Blog :: 03-2012

Seller Tip--Be Accommodating for Showings

Seller Tip--Be Accommodating For Showings

When I was a kid, my parents planned the whole week's worth of menus and activities in advance, and then put it up on the refrigerator. I know other people whose schedules make it hard for them to even talk to each other before weekends.

Selling a house in Montpelier Area

Short Notice? Make It Work!

Different folks plan differently. As someone selling a house in Central Vermont, it can be to your advantage to be accommodating to as many showings as possible. Even with short notice. Usually buyers will be able to give a day's notice...but not always.

And sometimes, even while buyers are out with their Realtors looking at other houses, the conversation will turn to your house, and they'll want to schedule a showing. Do you have to accept the showing? No, but if it's at all possible, you should.

You just never know when that buyer is going to make their decision, and you want to be in the mix.

True confessions: If your house is anything like mine, it's not exactly "stage-ready" most of the time. Buyers understand that too. So run around really quickly, put the clothes and dishes away, make the beds, clear the table. Maybe run a vacuum.

Buyers will appreciate that you've done everything you could to make the house ready for a showing. When they come back for the second showing (optimism!), you'll get more notice and you can really dazzle them.

Selling a House in Montpelier or Barre? Tip--Seller Contributions

It's not uncommon at all for buyers to make offers that include some sort of seller contribution at closing.

Reaching Agreement

Seller Contribution Can Keep a Deal Together

This is done for a number of reasons. Sometimes buyers just need a little extra cash to help cover the closing costs or part of the down payment. Sometimes they have some improvements in mind and want to preserve their capital to pay for those projects.

Whatever the reason, as someone selling a house, what really matters is the net sale price.

As an example, if an offer is made for $205,000 with $5000 contribution to the buyers' closing costs, the way to think about the offer is that it's for $200,000. The property will have to appraise for at least $205,000 because the loan is going to be made based on a percentage of the purchase price. But the net sale price is $200,000.

During any negotiations, just keep that net sale price in mind.  $202,000 with $2000 back to purchasers at closing is the same thing.  So is $204,500 with $4500 back at closing. You can see where this is going.

Again, it's fairly common. Especially in times of low interest rates. Adding a little extra to the principal of a loan may seem worth it to protect a little additional cash for closing costs or improvements. It's essentially the same thing as borrowing some of the closing costs.

Talking this through with an experienced, professional local Realtor can be very helpful. Just call or email.

--Ray Mikus