Seller’s credits were once wildly popular in real estate sales and are most often seen when it’s a buyer’s market, however, with the seller’s market continuing at full steam ahead, seller’s credits might not be as popular as they once were. If you’re planning on selling your home, you may be left with a few questions. Aside from the actual selling process, finances, profits, and timelines, often one of the questions that many sellers are left with is simply if they should upgrade or replace the flooring in their house prior to listing it on the market. With the market continuing to favor sellers, many have chosen to forego completing upgrades, especially when it comes to replacing the flooring and while it might not be needed to close the deal, many sellers are instead offering a flooring credit at closing.
Perks of Offering Seller’s Credits
Less Work – Whether you’re hiring a professional or replacing the flooring yourself, it takes time to have floors installed, work to coordinate schedules, etc. By offering a credit you are eliminating the work needed to replace the floors within your home.- More Affordable – Oftentimes the credit you offer will end up being less than what the bill would have been if you had chosen to replace the flooring within your home which makes the credit a more affordable option for sellers.
- No “Out of Pocket” Costs – While you will indeed by spending funds to offer the credit, most of the time this credit is offered after closing which means that the funds will be deducted from your net proceeds of the sale. So, while you’re technically still spending the money to offer the credit, it isn’t money that is coming out of your savings account so it will be almost as if it was a “free” credit.
- Free Upgrade for Buyers – Buyer’s love receiving credits for a multitude of reasons, however, the biggest is simply because it allows them to choose their own flooring and ensure that the floors mesh with their personal design taste.
Offering a seller’s credit when selling a house and suggesting it be used for flooring replacement can be both a strategic and appealing move. This perk provides buyers with the opportunity to customize and enhance their new home according to their preferences. By covering the costs of flooring replacement, sellers not only make the property more attractive to potential buyers but also alleviate an immediate financial burden for the new homeowners. This added flexibility can be a significant selling point, fostering a positive relationship between sellers and buyers and increasing the overall appeal of the property making it stand out among other comparable homes that are on the market.
If you’re unsure if offering credits on your home is the best choice, bring up your concerns with your agent as they will be able to help advise you pending on the current market, real estate availability, pricing, etc. Are you ready to call the Sunset Beach area home? Whether you’re searching for your first home, are an experienced buyer, or are ready to put your house on the market, contact our office today and we’d love to make all of your real estate dreams a reality!