Let's face it - interest rates and payment are the reason buyers are hestitant to purchase.
We experimented with two similar homes in Washington, DC
Home A used the Fairway Lock & List Program and built in the seller credit to their original offered price. The home sold at full offer price in 18 Days.
Home B did not use the program. After a $10,000 price reduction and $15,000 seller credit. their home sold in 62 Days.
Home A had a net profit of $22,570 more than Home B while selling 43 Days sooner!
The Lock & List program allows the seller to lock in a below-market
interest rate and then market that rate to perspective buyers.
Does the seller pay a fee?
Yes. There is a non-refundable $1,500 fee + a minimum of 2% seller credit required
How much seller credit can the seller offer?
It depends. It must not exceed the Interested Party Contribution Limits for the buyer's loan program that they ultimately choose. The maximum ranges between 3% - 9% of the seller's purchase price.
How long is the marketed interest rate locked for?
60 Days with the option to extend at 30 Day intervals.
How long is the marketed interest rate locked for?
60 Days with the option to extend at 30 Day intervals.
Show me a demoHow much seller credit can the seller offer?