Don’t worry, it probably has nothing to do with your decorating skills or color scheme. It has more to do with their own fear and uncertainty.
They’re busy calculating: “If I buy this house, will the prices drop further the minute I squeeze my couch through the front door? Is this the best house for my money? Can I afford it if anything goes wrong?”
This is a home selling problem many people are facing across the country. But now you can turn a home buyer’s worry into a home selling advantage by throwing in a few anti-anxiety incentives with the purchase of your home.
Here are two incentives that can put your home on the top of a buyer’s list:
Home Equity Protection – Did you know there are insurance policies available now that can protect against the loss of a home’s value due to a declining local housing market? These policies come with certain conditions, such as the need to pay a deductible if the home is sold within the first year or two, there is a limit on the amount of a claim, ranging from 10% to 25%, and the home’s current value is locked in for a specified period of time, such as ten years. (In other words, the new owner must sell within that period to be reimbursed for their loss.)
Home sellers can purchase such a policy for a one-time fee, which averages around 1.7% of a home’s value, and is funded when the house is sold. For a nervous buyer, knowing that their investment may be protected from any further slide might make the difference between choosing your home instead of a competing house that doesn’t carry this protection.
Home Warranty Insurance - Ah, to know that the furnace can go out in the middle of winter or the washing machine can breakdown mid cycle, and you’ve got a number to call for help. These policies cover appliances and household systems such as plumbing, electrical, and HVAC units. Again, this insurance comes with deductibles and other conditions, for example, you can’t repeatedly hit your washing machine with a baseball bat and expect the insurance to cover the damage.
These incentives might bring a home buyer enough security to help cinch the deal. I know it gave us a warm, fuzzy feeling when our Realtor threw in a home warranty policy with the purchase of our last house. And finding ways to provide home buyers with that warm, fuzzy, secure feeling is the way to go in today’s uncertain housing market.
For more home selling tips and ideas for selling your home faster and easier in this slow market, read Home Seller’s Blues and How To Beat Them. Available in paperback and as an ebook through Amazon.com and at http://www.homesellersblues.com.