Q: I currently have my house listed for sale. With all the other properties competing for attention, how can I make mine stand out?

A: Great question. Here’s a good way to gain more attention from potential buyers. Look to see if your broker has a relationship with a mortgage company that can offer Special Financing on your listing.

Special Financing is a mortgage program that serves as a strategic marketing tool for selling properties faster by offering a competitive home financing program. It is an interest rate buy-down program on select products that benefits the seller, the buyer.

This program is a great way to attract buyers who are sitting on the sidelines waiting for rates to go down before they buy a house. In addition to differentiating your listing, it is also a great tool for attracting more buyers willing to make offers. It can protect you from sales price reductions over your time on the market. The Special Financing programs differentiate your home by making it more affordable than similar properties on the market, so it helps you to sell faster. Important today because most properties are staying on the market longer. The property is now more affordable because you, the seller, are paying points to buy down the interest rate for the buyer. This also provides strength you’ll need while negotiating. Another benefit to you the seller is tax savings. You should consult with your tax advisor to discuss these benefits.

Here’s how it works; The seller agrees to buy down the buyer’s mortgage interest rate by providing a credit of up to 2.25% of the sales price. Ideally, the credit is applied to the originally listed sales price to attract buyers without lowering the asking price. The credit would be applied to the final sales price. The mortgage company applies this money (which is called the seller concession) towards the buyer’s mortgage rate, lowering the interest rate and monthly payment. (Contact a Mortgage Advisor to obtain any restrictions.)