Seller Concessions
Here are a few sales concessions that are “one for the books.”
“I was looking at a possible comp today that had as a seller concession, ‘includes riding mower and snowplow’. I also saw one a while back where the seller would give you your choice of a Chrysler 300 or Cadillac CTS if you bought his house.” - Mike Shields, Ohio State Certified Residential Appraiser.
“We had a new high-rise condo building with a handful of the larger units remaining unsold as the building was about to open for occupancy. There was an advertisement for the building claiming it would pay for your children's or grandchildren’s college education if you bought one of the few remaining units! Now that is what I call a concession.” - Carol Trice
“In the early 60s when I was in Southern California, most all the builders were putting a car in the garage as an incentive to buy.” - Joe Heron, Rhode Island State Certified Residential Appraiser
“A John Deere riding mower is a pretty common inclusion on our hobby farms--2-5 acre parcels. Sometimes sellers just leave it with the property--they won't need it in their urban high rise condo and it's easier to just leave it there than try to sell it. We also had one of our largest builders offering Smart Cars to the first 20 buyers.” - Sheila Ostly, SRA.
“Here in Michigan the high end homes and condos offer a rental car on a three year lease.” - Geri Lillis, State Licensed Appraiser.
Thanks to Appraisal Buzz Email Forum.