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Home Sellers

Want to sell your Barbados home faster?  List your home with Coral Stone Realty and have it listed as a Special Offer listing.

HERE IS HOW IT WORKS:

Q. What is a Special Offer?
A. A Special Offer is an incentive offered by the owner and seller of a Barbados home to the buyer in order to bring additional traction to the listing for various reasons aimed at securing a buyer. These may include:

  • The seller may be a very motivated seller desirous of a quick sale.
  • The home may have been on the market for sometime and the seller is desirous of giving it an added “splash.”
  • The seller may have already introduced a price cut and the additional incentive could make it more attractive to potential buyers.
  • A seller may urgently need to sell his home first in order to purchase another.
  • It brings more visibility to the listing because it is more noticeable.
  • It creates an extra “buzz” about the home.

 

However, sellers should be mindful that pricing is still the most important factor in locking down a sale. If you are not competitive in the market and your home is overpriced, you are not going to sell your home quickly. Price your home correctly from the start especially in a buyer’s market. Price it right!

Q. What is the typical Special Offer?
A. The typical Special Offer is a credit towards the buyer’s closing costs or part thereof as offered by the seller. For example, if a buyer’s closing costs is $10,000.00 and the seller offers to pay the buyer’s closing costs, that figure would be paid to cover the buyer’s closing costs. However, a seller may opt to offer a fixed amount which would be paid solely towards paying for part of the buyer’s closing costs.

Q. Who pays for it and when?
A. It is paid for by the seller from the proceeds of the sale and it is paid on completion of sale.

Q. Who is responsible for making the payment and to whom?
A. The seller’s attorney-at-law is responsible for making the payment to the buyer’s attorney-at-law which would go solely towards the buyer’s closing costs.

Q. Can there be any other types of Special Offers?
A. Yes, there may be other types of Special Offers offered by different sellers. A seller may wish to offer a buyer a CASH BACK refund on the purchase of his/her home. For example, should a seller offer a CASH BACK refund of say $12,000.00, this figure would be paid to the buyer on completion of the sale.

Q. To whom is it paid and by whom?
A. The CASH BACK refund Special Offer is paid by the seller’s attorney-at-law directly to the buyer on completion of the sale.

There may also be other offerings by sellers in the Special Offer. For instance, a seller may offer a gift voucher for new appliances at an appliance dealer. In the case of a condominium, the seller may offer to pay condo fees for a given period.

Whatever the offer, it would be stated in the Special Offer listing as well as in the Purchase and Sale Agreement.

Q. Does a Home Seller have to offer a Special Offer to sell his home?
A. No, a Home Seller does not have to offer a Special Offer in order to sell his home.

Q.  I own a Barbados condominium which I would like to sell. Could I offer a Special Offer on the sale of my home?
A. Yes, you can offer a Special Offer on the sale of your Barbados condominium home. Homes for sale in Barbados include  residential houses, villas, single-family homes, luxury homes, beachfront homes, plantation houses, cottages, bungalows, condominiums and townhouses.

 

Terms and Conditions

As the seller, you must:

  1. List your home with Coral Stone Realty.
  2. List your home with a Special Offer on your listing. The offer will only be valid while it is listed with Coral Stone Realty as a Special Offer.
  3. State what your offer is in the Special Offer.
  4. When the home is sold, instruct your attorney-at-law to include the Special Offer in the Purchase and Sale Agreement.
  5. Ensure it is included in the Purchase and Sale Agreement.

 

I own a home in Barbados which I will like to sell. I will like to List My Property with Coral Stone Realty.