Feeds:
Posts
Comments

Archive for the ‘selling southeast michigan’ 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

Advertisements

Read Full Post »

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

Read Full Post »

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 

Read Full Post »

When High Tech is just an excuse for laziness

This post is NOT a criticism of electronic signatures, Twitter, Facebook… nor of agents who utilize these methods in their real estate business.

This post IS a criticism of agents who criticize those of us who choose NOT to use any of the above in our real estate practice.

I was in a class a couple weeks ago when electronic signatures was brought up. The main (only) reason many agents gave for using e-signatures was it’s easy. Great- if easy is important then do what’s easy. I choose to meet with my clients to discuss offers and counter offers. I choose to actually watch the person penning the signature I’m going to witness. I think there is a reason most banks won’t accept an electronic signature. I also know it wasn’t that long ago that a 14 month old bought a car on eBay with her dad’s smartphone.

Twitter, Facebook and other forms of social media- Again I think the primary motivation for this form of advertising is that it’s easy. And social. If it works for you then fine. I choose to understand SEO, SEM and a sprinkling of good old fashioned print advertising. I choose to maintain 2 highly ranked web sites optimized for key words I researched for potential results. I know that Clarkston MI real estate gets searched more on Google than Clarkston Michigan real estate. I don’t Tweet, I barely ever log onto Facebook. The closest thing to social media advertising I use is blogging.

 

Use whatever works for you. But please don’t criticize those of us who don’t jump on the same so called High Tech bandwagon you did.

Why List Your Home With Jackie

Marketing Your Home

Preparing Your Home for Sale

www.Search-The-MLS.net

Read Full Post »

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

Read Full Post »

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

Read Full Post »

Seller Concessions Explained- Southeast Michigan Real Estate

This is my attempt at a very simplified explanation of what seller concessions are.

Example: You want to buy the house you just looked at and want to make an offer of $200,000. You need $5000 in seller concessions (seller paying all or part of your closing costs). Your offer will be $205,000 asking the seller to pay $5000 in concessions. If you offer $200K and ask for $5K in concessions, your offer is really $195,000.

The seller isn’t really paying your closing costs- you are mortgaging them.

Sellers- you really aren’t paying those closing costs. The buyer is mortgaging them.

Buyers- sellers have a bottom line. They don’t tend to come down to that bottom line AND pay concessions. The concessions are rolled into the purchase price.

Sellers– don’t question the amount of the concessions. If the buyer’s loan officer is over charging them that is their business. You only need to be concerned about your bottom line.

Compliments of Jackie Hawley, Realtor of the JHawley and Associates Real Estate Team at ReMax Encore in Clarkston MI.

Cell: (248)736-6407

Jackie@JackieHawley.com

www.SearchMichiganMLSListings.com

Lower Straits Lake

www.OaklandCountyMichiganLakes.com

Waterford MI Lakefront Homes For Sale

Clarkston MI Lakefront Homes For Sale

White Lake/Highland MI Lakefront Homes For Sale

Lake Orion/Oxford/Addison MI Lakefront Homes For Sale

Lapeer MI Lakefront Homes For Sale

www.LakeOaklandHomes.com

www.MacedayLake.com

Sylvan and Otter Lake

www.LakeOrionLakeFrontRealEstate.com

For Sellers- www.JHawleyAndAssoc.com

For Sellers- www.AreaRealEstateExperts.com

www.ClarkstonMichiganRealEstate.com

www.MiRelocation.com

Read Full Post »

Older Posts »