How can you increase your odds of Selling in this market?
February 20, 2009
By barbaraqf
The housing crisis has prompted Savvy Sellers & Realtors to become creative!We assist you with negotiating a Seller-Funded Temporary Buydown which is a fee that the Seller pays at closing. These “discount points” are held by the Buyer’s lender in an escrow account and used to subsidize (temporarily reduce) or “discount” the Buyer’s rate and payment for the first few years. The cost of the Buydown for the Seller is minimal in comparison to the ultra-low payment it allows the Buyer.
We represent Motivated Sellers who are looking for a competitive edge in today’s market. In addition to your Realtor’s marketing plan, open houses, newspaper ads, internet listings… Just as you may choose to hire a Home-Stager, 321ADVANTAGE provides a value-added service that infuses energy and excitement into the marketing of your property. We do not discriminate! We team up with ALL Sellers, ALL Realtors, Builders and Lenders and act as “Financial Home Stagers” - we make your home more attractive, interesting and appealing FINANCIALLY.
Win! Win! Opportunity!
Example: Buyer is approved for a $300,000 mortgage at 5.5%/30 year fixed.
321ADVANTAGE Seller has agreed to a 3 2 1 Seller-Funded Temporary Buydown. (Seller pays $12,690.37 at closing.) Year 1: 2.5% x $300,000 = $1,182 ($518/month savings) Year 2: 3.5% x $300,000 = $1,343 ($356/month savings) Year 3: 4.5% x $300,000 = $1,514 ($183/month savings) Year 4-30: 5.5% x $300,000 = $1,695
