After two crazy years of frantic Chattanooga home sales, home sale concessions are coming back.  In the past two years people were buying Chattanooga homes without asking for help with closing costs, without an inspection contingency, and even without a financing contingency.  Many home warranty companies either went out of business or sold to competitors, because sellers did not have to offer home warranties any more.  A low offer on a Chattanooga home was easy to say no to when several other offers were on the way or in hand.  In fact, small things, like asking the seller to pay for a buyer's title insurance, kept offers from being accepted.  It took an experienced Chattanooga Realtor to help you make your contract as "skinny" as possible in order to be awarded the contract.

Now Realtors are seeing people ask for and get concessions.  Chattanooga home buyers are asking for inspection periods and asking for repairs.  When there were several offers on a property, I do not recommend asking for too many repairs, but sellers are now granting repairs.  Chattanooga home sellers are accepting offers where people need the seller to pay for some of their closing costs out of their net proceeds.  FHA and VA loans attached to a purchase were typically rejected during the past two years due to the potential repairs that the appraiser could ask for.  A seller of mine accepted an offer with a VA loan and with the seller paying some of the buyer's closing costs over the weekend.  When selling a home today, you need a Chattanooga Realtor who has the experienced of selling homes during normal times.  You need a Chattanooga Realtor who will follow up with potential home buyers or their agents and see if there is common ground that you can find that leads to a purchase.  You also want a Realtor who is willing to collaborate with other Realtors to get your property sold instead of get in the way of a property being sold.

You still need to weigh how much inventory is available in the area where you are looking to see if you can ask for some concessions, but overall you have more opportunities to get concessions in today's market.

Call Nathan Walldorf to sell a home or buy a home. 423-544-7700


Also see 1st Time Home Buyers Have More Opportunities to Buy a Home