Daily Real Estate News April 7, 2008
Buy My Home, Be My Beneficiary
A Wisconsin home owner has an interesting gimmick that he hopes will persuade buyers to check out his Whitehall home, listed at $498,900.Whoever buys the home will become the beneficiary of his 10-year $500,000 life insurance policy. That means, if the 69-year-old seller Bob Fanning dies during the first 10-year period of ownership, the buyer of his home gets the payout."Life's a gamble, this is a gamble," Fanning says.Some wonder whether Fanning will fear for his life after selling his home. But Wayne Peters, the real estate practitioner who listed the property, says the there will be no payout if someone kills Fanning. “The attorneys have provided for that.”Peters agrees it is an unusual buyer incentive, but says it might work. "It's hard to get people's attention in this market. There are a lot more sellers than buyers."The two-story, 5,600-square-foot home has four bedrooms and four baths and is on a 30-acre property.Source: The Associated Press (04/04/2008)
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