selling home

Posts Tagged ‘selling home’

Selling a Home???? Make your buyers first 6 months payments!

March 28th, 2008 by Troy Schuricht | 5 Comments | Filed in Mortgages, Property Listings, Realtors

Need an incentive to help move a home?

through the keyhole by twenty_questions The answer is PITI Abatment. Do not let the financial jargon scare you. For years production builders have used this incentive to move inventory. Now every seller/investor has the opportunity to participate.

What is PITI Abatement?

An incentive to the buyer to have the first 6 months of the mortgage paid by the seller/investor.
PITI Abatement program is a product designed specifically for home-buyers. You can give a 6% Seller Contribution that can be used for Principle, Interest, Taxes and Insurance payments.

What are the General Guidelines?

Loan amounts up to $417,000
Up to 100% of the purchase price in some markets
Minimum score of 575
Fixed Rates and ARMs
Interest Only is available
Income limitations may apply
Closing costs can be paid by seller too
No prepay penalty

What is the Realtor or Investor marketing element?

6 MONTHS PAID!
BUY THIS HOME AND I WILL PAY YOUR FIRST 6 PAYMENTS
6 MONTH PAID MORTGAGE INCENTIVE
BUY MY HOME AND I PAY CLOSING COST AND 6 PAYMENTS

In today’s real estate market investors need all the help they can get. With increased inventory in just about every market place, realtors and investors need to use unconventional tools to create benefits for their potential buyers. I have seen cars, furniture, pools, and televisions given away. But those items can be difficult to include in the average investor transaction. Giving away 6 months of payments can create separation from the other sellers in your market place.

Welcome to Our Blog!
Welcome to the Real Estate Dispatch from BiggerPockets.com. Our blog brings together experts in various fields of real estate with the goal of keeping our readers informed and up to speed. Whether you're a real estate professional (lender, Realtor, banker, etc), investor (landlord, flipper, wholesaler, etc.), or simply a consumer, renter or homeowner interested in the world of real estate, this blog is the place for you to get involved!

You can subscribe to our RSS feed, get blog updates by email, join our free mailing list, or best of all, join our social network along with 25,000 others interested in real estate education, dealmaking, networking, and marketing.