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Posts Tagged ‘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.

Cell: (248)736-6407

Jackie@JackieHawley.com

www.SearchMichiganMLSListings.com

www.OaklandCountyMichiganLakes.com

Waterford MI Lakefront Homes For Sale

Clarkston 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

www.ClarkstonMichiganRealEstate.com

www.MiRelocation.com

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What is the job of a buyer’s agent in Southeast Michigan?

Many agents seem to have the idea that the primary job of a buyer’s agent is to get the seller to come down on his asking price. The more you can get the seller down, the better you’ve done your job. NOT!!

Here in the North Oakland County and surrounding areas there is such a lack of inventory that when you (the buyer) find a house the objective at this point is to get the house. flexingThere’s a good chance you will be in a multiple offer situation. Or if you wait too long you will be in a multiple offer situation. Why would you want to settle for your second or third choice of home because you lost out on the house you really wanted- but your agent felt the need to flex and either encouraged you to write a low offer or didn’t try to talk you out of low balling?

My job as a buyer’s agent is to find you the best house for your wants and needs for a price you are comfortable with, then make sure you get the house and go through as little stress as possible. Sometimes that means paying asking price or over. A well priced home in North Oakland County– specifically the Clarkston, Lake Orion and Oxford MI areas will sell quickly and for close to asking price or over.

There are different negotiating strategies depending on the type of sale and the motivations of both the buyer and seller. For example the motivation of a short sale seller will be different than a non-distressed seller. The short sale seller may place more importance on free possession after the closing whereas a non-distressed seller may be more interested in sale pricepeacock

But the one thing all buyers and sellers have in common is getting to the closing table – not watching their agents flex and strut. It doesn’t matter how much of a peacock you agent is if you don’t get the house you want.

 If you are considering purchasing a home in Southeast Michigan please don’t hesitate to contact the Jackie Hawley team. We have buyer specialists who are professional and always put your interests first.

Search the MLS

What to Expect From a Buyer’s Agent

Financing and the Importance of a Pre-Approval

The Home Inspection

Clarkston MI Homes for Sale

Clarkston Lakefront Homes

Jackie Hawley, Realtor

Jackie@JackieHawley.com

Cell: (248)736-6407

www.MiRelocation.com

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