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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

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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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