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Some home sellers are getting extra creative in their attempts to find a buyer. I wrote about buyer incentives in October that included a free Honda Civic, furniture allowances and gift cards.
But what about an essay contest? Or a rebate of what you pay for a house when the sellers die? Both tactics cropped up in a recent Associated Press story highlighting the extremes some sellers find themselves going to.
Here are some excerpts from the story:
Frustrated as her house languished on the market for three straight summers, J.J. Rodgers is trying a new sales tactic: giving the two-story home away in an essay contest.
Already, she’s received more than 500 entries — each essay requires a $100 entry fee — for her four-bedroom home in Red Feather Lakes, Colo. She’s hoping for a minimum of 2,000 entries, or $200,000 in fees, by the May 25 deadline to pay off the mortgage, cover closing costs and have a little left over. Rodgers last listed the property at $169,000 after cutting the price three times.
“We don’t have anything to lose,” Rodgers, 45, said. “If we’re unsuccessful, at least we did something different from what we’ve already tried.”
And the Pennsylvania couple who floated the unusual money-back-upon-death deal:
Buzz was all Bob and Ricki Husick needed to sell their Wexford, Pa., home using a unique incentive. In October, the couple advertised that the buyer would get the purchase price back upon the pair’s passing. The heirless Husicks added a bonus offer: The buyers could inherit the couple’s retirement home in Arizona, worth about $500,000, too, if they agree to care for the Husicks in old age.
After vetting more than 100 offers following a flood of media attention, the couple found a buyer 80 miles from their two-story colonial and plans to close before the end of April. They will receive their $399,999 listing price. The buyers haven’t counted out the offer to look after the Husicks during their twilight years, but both parties realize circumstances could change in the interim.
“The house is sold. They’ll get the money back. That part’s a done deal,” Husick, 55, said.
Seen any comparable marketing come-ons lately? Any thoughts on how well such tactics work?
