At first glance, I didn’t see anything new in this article that wasn’t said before. Basically, whenever you sell your home, you should follow the same rules, regardless of the state of the market. Make minor improvements or repairs, where necessary, price your house or condo near the middle of what other, similar homes are selling for, and use an agent (or be willing to work your ass off).

Here’s an interesting idea, however, that I hadn’t thought of.

Consider paying the buyer’s discount points

Paying points is an incentive you can offer to a buyer, and Uncle Sam sweetens the deal.

Let’s say the buyer wants you to drop the price by 3 percent. You’re firm on the price but are willing to be flexible by working mojo with the buyer’s interest rate and tax bill.

You offer to pay 3 discount points and lower the buyer’s mortgage rate three-quarters of a percentage point, give or take a quarter-point. By paying the discount points instead of selling for less, you get your price, the real estate agents get bigger commissions, and the buyer makes lower monthly payments and gets to deduct the points from income taxes.

Complete article: Five tips for selling a home in a buyer’s market – by Holden Lewis, Bankrate.com

For more information on how to be a Boston condo owner please contact John Ford at 617-720-5454. You can also email at realtyford@yahoo.com

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Updated: January 2018

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