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Incentives Can be Offered by Buyers/Sellers Too!
There are many different kinds of incentives that a seller can offer, or a buyer can request in the transaction, and they are all part of the negotiation. Common incentives might include;
- Reduce the price
- Pay points for the buyer – (deferred interest payment, payment of only principle amount during initial instalments)
- Help with the down-payment
- Help with closing cost (consideration of payment terms with a combination of cash & deal financing)
- Offering a home warranty (Extended warranty on interiors, any consumables or anything agreed as part of the deal)
- Pay future fees like landscaping and pool maintenance
- Offer a mortgage buy-down
Actually the list can go long as long you / your agent is creative, and often finding some little thing you can request or offer can make a deal work. Be sure to spend the time working on these possibilities and putting them in your arsenal of negotiation tactics. Each real estate deal is different & how it can be structured varies based on many probabilities. Count your odds & make them work!
– Article by Suman Adithya Rao (SEBI Certified Research Analyst, Management Graduate in Entrepreneurship & Small Business Management)
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