One of the greatest obstacles for sellers currently is the reluctance of buyers to make that purchase as they believe that prices will come down. Who can blame them? Depending on the day or news source, there are wide ranging forecasts – from the housing market is in good shape, to a possible slight correction in price, to a “housing bubble” that will mean a dramatic price reduction. So, many buyers are just waiting…Sellers in the meanwhile will have to choose between withdrawing their home from the market or reducing the price.
What if we could take some of this fear away? Well, this is where the Buyer Protection Plan comes in.
The program is designed to reimburse the purchaser a preset amount should the property value drops by 5% or more a year after the purchase. It is almost like a “partial price guarantee”.
For sellers, this program makes their property a bit more attractive and differentiates it in the marketplace. For buyers, it provides them with a level of confidence that if they buy and prices do go down they will get some of the money back.
The Buyer Protection Program is only offered via approved mortgage brokers and approved realtors.
For more information and details visit Buyer Protection Plan.
What are your thoughts on this new program? As always, I would like to hear from you.