Seller Concessions Explained- Southeast Michigan Real Estate

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
Coldwell Banker Professionals

Cell: (248)736-6407

Jackie@JackieHawley.com

www.SearchMichiganMLSListings.com

Blog : www.AreaRealEstateExperts.com

www.JackieHawley.com

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Showing Times Are Just Approximations

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

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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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What Does BATVI Mean? Southeast MI Real Estate

What Does BATVI Mean?

Simply- Buyer Agent To Verify Information.

This is also known as an ass covering, or in my opinion, a waste of precious space in the limited space allotted in the MLS.

If you are selling a Southeast MI home, check your MLS sheet to make sure it is complete and accurate with several quality photos included. The MLS is in place to sell your listing to the buyers’ agents. If I am going to show 5 houses to someone and 10 show up in the MLS search, poorly filled out listings probably won’t make the cut.

Often times BATVI gets replaced by CHP or EXP (price change or expired listing).

Jackie Hawley
Coldwell Banker Professionals
Jackie@JackieHawley.com

Cell: 248-736-6407

Marketing Your Southeast MI Home

Choosing An Agent To Market Your Southeast MI Home

Choosing A Buyer’s Agent

Search The MLS

 

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