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Archive for the ‘NON Distressed Seller’ Category

This is a common question I get when a person is considering selling their Oakland County MI home. First let me explain that most everything is negotiable; the purpose of this post is to address what is customary for the Oakland County and Lapeer County areas.

Costs to the seller:

  • commission (I normally charge 6%, 10% on vacant land)
  • transfer tax (.75%)
  • revenue stamps ($1.10 per $1000)
  • title insurance (depends on the sale price)
  • $295 file retention fee (amount varies with different companies)
  • misc. costs such as wiring fees, recording fees and I usually estimate on the high side at $500 but is probably closer to $100 on most transaction

If you currently have a mortgage on the house that will have to be paid out of your proceeds. Taxes are usually prorated to the date of closing and if you are current on your taxes you will probably get some back. Homeowner association dues is usually prorated to the date of closing. Water and sewer bill (if applicable) are paid at closing.

If there is possession $200 or $300 is usually escrowed at closing to cover any water/sewer charges for the time you live in the house as a tenant after closing. You will normally pay the new owner’s house payment for the time you stay after closing. So you agree on 45 days possession after closing, we will typically escrow 45 days of the new owner’s mortgage and you pay for the days you stay.

These costs are for a normal sale- not short sale or land contract sale.

For more information about selling your Oakland County or Lapeer County MI home please don’t hesitate to contact me.

Jackie Hawley, Realtor
ReMax Encore
Jackie@JackieHawley.com

Cell: (248) 736-6407

www.MiRelocation.com

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Why it’s best to close on your Oakland County home as soon as the buyer gets loan approval

There are many reasons to close immediately after the loan is approved and the buyer is clear to close. Even if that happens 3 or 4 weeks prior to the close by date.

  • Seller can die
  • Buyer can die
  • Buyer can lose his/her job
  • Buyer can run up a credit card and no longer qualify
  • Buyer can get a job transfer
  • Buyer can break up with or divorce co-buyer

All of the above have happened in transactions I’ve been involved in (except for the first one).

If it is difficult or impossible for the seller to move a few weeks early, you can always work out something regarding possession. There’s a good chance the buyer’s new house payment is lower than the seller’s current house payment. Prices still haven’t peaked and interest rates are very low.

Jackie Hawley, Realtor, ePro
ReMax Encore

(248)736-6407
Jackie@JackieHawley.com

www.MiRelocation.com

What to expect on the listing appointment

Preparing your home for sale

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Why Zillow is a Good Thing

They are well optimized so my listings get good exposure.

And their Zestimates are SOOOOOOO wrong!!

The first is a no brainer. Free exposure with a pretty decent format. My listings are attractively displayed with multiple photos and a good description. I can edit the photos and text, and it allows me to link a virtual tour.

Many agents belly ache that we are giving our listing data over too easily just for Zillow to sell leads to other agents. This is true, but there is nothing I can do about that. Most sellers would not be happy if I excluded Zillow from displaying their listing. And I don’t blame them. So for now I take the free advertising.

Many agents have also been whining lately about the inaccuracy of Zillow’s Zestimates or estimated house values. And they are correct. Most of the estimated home values on Zillow are crap. From my perspective this is a good thing. It bolsters my belief that sellers and buyers still need us. If a computer program can accurately price a home, it greatly reduces the need for real estate agents and appraisers.

So in my mind Zillow is a good thing- further proof for the need of a real estate professional and free advertising on a highly ranked web site.

Thinking of Selling

Thinking of Buying

www.Search-The-MLS.net

Jackie Hawley, Realtor

ReMax Encore

Cell: (248)736-6407

www.MiRelocation.com 

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Should I stay around for the showing?

Many home sellers in Oakland and Lapeer County Michigan ask this question. You should leave and I should not be there either.

For the showing you want potential buyers to be as comfortable as possible. You want them to feel free to express any concerns or dislikes to their agent. Often this is a sign of interest and a good buyer’s agent will often times have solutions. Nobody wants a buyer to pass on a house because of something curable.

You want the buyer to feel comfortable enough to sit down, feel like they’re at home. Placing furniture. Kids picking out their rooms.

You don’t want them to feel rushed or inhibited. You don’t want them to feel like they’re being “sold” anything.

Getting Your Home Ready For Sale

Home Evaluation

What to Expect on the Listing Appointment/How Much Does it Cost to Sell?

Why List With Jackie

Jackie Hawley, Realtor
ReMax Encore, Clarkston MI

Cell: (248) 736-6407

Jackie@JackieHawley.com
www.MiRelocation.com

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Is My Listing REALLY Overpriced?

It seems lately the explanation that comes with a low ball offer is that the house (my listing) is overpriced. I guess soooo grossly overpriced that your buyer chose it as their favorite. I understand a buyer submitting a low offer trying to see what they can get it for. I don’t agree that is the best way to get the seller to his/her bottom line, but I understand it. But many of these offers are coming in 15%-25% low and negotiations inevitably end with buyer and seller not coming to terms and about 5%-8% apart. That translates to $10K or $20K apart.

I get the feeling the asking price was over those buyers’ purchase abilities. So the agent ends the negotiations with something along the lines of “good luck getting it sold” followed up with something derogatory about the house.

Guess what- prices are going up. Inventory is low. Those houses DID sell within a month or two of your so called offer for the same or more than our lowest counter. And they appraised. And they closed.

At $3.50/gallon, I hope you aren’t still driving those buyers around, writing low offers on “overpriced” houses.

Buyer’s agents need to educate their buyers.

Prices in North Oakland and Lapeer counties have been increasing- sharply. What you can buy for $200,000 today will probably get $210,000 or even $220,000 this summer.

Interest rates are good, and the longer you wait to buy the more you are chancing an increase in interest rates.

Houses are selling on average within 2%-3% of the asking price.

Inventory is low and has been for quite a while. If you’re good at $120,000 today but don’t like any of the houses out there for $120,000, or can’t get anybody asking $140,000 to come down $20,000, you may be forced to buy a house this summer for $120,000 that would sell for $110,000 today.

If a house is slightly overpriced today won’t be this summer. Not every seller has the same motivations. Some want to sell quickly. Some want to sell for top dollar and we are now in a market where patience can be profitable.

 

Thinking of Selling? –Professional Home Evaluation 
Buying? Choosing a Buyer’s Agent

Search the MLS

Jackie Hawley, Realtor
ReMax Encore, Clarkston MI
Cell: (248)736-6407

Jackie@JackieHawley.com  

www.MiRelocation.com

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Home staging your Oakland County or Lapeer County MI home for sale.

At one time it was just part of a Realtor’s job to “stage” a home they were listing- at least in the North Oakland and Lapeer areas that I work in. In those days staging had a bit of a different meaning. I typically will tell a seller if they need to de-clutter, clean, paint, repair…. I have no taste, so I don’t normally suggest colors. I may suggest taking down some of your “art work” or removing bushes that are too big and too close to the house. This was called “staging.”

Now there is a whole new industry for home staging. Home Stagers have their own associations, training, certifications, etc. This is a “good thing.” Staging your Oakland County or Lapeer home MAY help you sell it faster and for more money. But since Home Staging has become its own industry, home stagers really don’t like Realtors calling what we do home staging.

It’s kind of like Kleenex which is a brand of tissue, but is used for all brands of tissue. Jacuzzi is a brand name that is used for all jetted tubs, and so on.

When it comes to the term home staging or home stager, certified home stagers think they own this term. Who had it first? Realtors used it long before home stagers were in existence. If you contact a Realtor who offers free home staging services, find out exactly what they are offering. Some may have a professional stager on their payroll. Some may just be coming in and suggesting ways to make  your home show better.

There’s nothing wrong with the second scenario; most houses in Oakland and Lapeer County will NOT benefit from professional home staging services. Some will. The first call should be to your Realtor who can help you determine if you need professional staging services or not.

www.SearchMichiganMLSListings.com

www.OaklandCountyMichiganLakes.com

www.ClarkstonMichiganRealEstate.com

www.JHawleyAndAssoc.com

www.AreaRealEstateExperts.com

www.LakeOaklandHomes.com

www.MacedayLake.com

www.LakeOrionLakeFrontRealEstate.com

Jackie Hawley, Realtor
ReMax Encore, Clarkston

cell: 248-736-6407

Jackie@JackieHawley.com

www.MiRelocation.com

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Now your Southeast Michgan house is on the market- beautifully described in the MLS with 25 photos and a virtual tour, sign in the yard with color flyers in the box (again- beautifully described), full color ads all over the internet. Everything is going along just like your Realtor told you it would.

And now the first call.

Someone wants to show your house tomorrow between 1 and 2. That doesn’t mean they show up and leave in that hour. It doesn’t mean they won’t be running early and possibly show up at 5 to 1. Or quarter to one. They may get there at 1:55 and not be done until 2:30 or 2:45.

Please have the house ready early. And if an agent with client in tow shows up a bit early, be prepared to leave immediately. If you get home at 2:05 and they are still there, keep driving! Circle around the block a few times, or go get a coffee.

The goal is to get the house sold- not point out they’re early or make them feel rushed by coming home while they’re still there. Scheduling isn’t a science. Some buyers are faster lookers than others. We don’t know what houses they looked at previous to yours- they may have been dumps and they spent little time on them and arrived early to yours. Whatever.

Just remember- the times you are given for the showing are just approximations.

Marketing Your Southeast Michigan Home

Why You Should List Your Home With Me

Preparing Your Home For Sale

Search The MLS

Southeast Michigan Homes For Sale

Jackie Hawley, Realtor
ReMax Encore, Clarkston MI
Cell: 248-736-640
Jackie@JackieHawley.com

www.MiRelocation.com

www.OaklandCountyMichiganLakes.com

www.ClarkstonMichiganRealEstate.com

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