In a slow real estate market, where inventory and competition for buyers is high, sometimes the seller has to “sweeten the pot” to get the deal done. Here are four creative ideas to help close the deal.

1. Offer a Decorating Allowance

There maybe a buyer that likes the home, but just has different decorating tastes. To seal the deal, offer a decorating allowance (for painting, new carpets, or wallpaper). You can offer cash at closing, or put money in trust to reimburse decorating & remodeling expenses made within 90 days of closing, up to a maximum amount. This may be just the thing to get the deal done.

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Scotia Bank of Canada has just released a special Economic Release. In which the describe the fundemental differences in the way that Canadian borrow money from that of the folks in the United States. Yes, we do have the highest priced homes on average in Canada, however we also have the lowest default rate as well. 

Subprime mortgages in British Columbia make up less than 1% of all mortgages, in short folks can’t walk away from their homes without loosing a considerable sum of money initially invested. The is security in knowing that you nieghbour has no equity and nothing invested in their home… walking away only means a bad credit score. We simply just don’t have that here in Vancouver, and there is security in knowing that.

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