Getting a home Pre-Qualified for an Energy Efficient Mortgage is THE SMARTEST method to attract attention in 2010 and is an easy ticket to increasing sales.
Lets carry on the conversation on why this is important. In part 1 of this conversation, Robert Krug of energymacro.com mentioned that most Realtors feel that yet another audit or inspection can slow or kill the deal. The goal is simply to show the Realtors how an energy audit can speed up and seal deals. Every single sellers agent should be encouraging their sellers to conduct an energy audit. When combined with an energy efficient mortgage, faster sales, more traffic to the homes and more referrals will occur.
I stated in quotes at the top that getting a home Pre-Qualified for an Energy Efficient Mortgage is the smartest method to attract attention in 2010 and is an easy ticket to increasing sales. Why would I say that. Is there justification? YES
The deal is to be able to show the financial benefit to both the buyer and the seller! An energy efficient home offers several key benefits that can be clearly stated in terms understood by all. This saves money, Lots of Money!
Lets use this example. The selling customer of a Realtor has 15 year old home to put on the market. The home needs a new furnace and is often drafty. The furnace issue will certainly be found during the inspection period and may kill the deal.
The seller has an energy audit on the home. The results are provided to a mortgage broker familiar with energy efficient mortgages. The home is then marketed and advertised as “Pre-Approved for and Energy Efficient Mortgage”
The seller can get the new furnace paid for within the mortgage which increases the mortgage by about $30/month. However, the new energy efficient furnace, duct sealing and draft sealing results in monthly utility savings of $120/month. The buyer sees more money in their pocket of $90/month, from day 1. That is over $10,000 of savings, by installing a new furnace.