Doug
Barry
LONG & FOSTER REALTORS®
Direct
410-207-4751
Office 410-823-8111
Doug@RealtyComplete.com
Direct
Line 410-207-4751 Office 410-583-5700
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What's
More Important - The Price My
House Sells For Or My Seller's Net?
Your seller's net is far more important than the sale price. The "Sellers Net" is the actual dollar amount you get after everything is paid off at settlement. Any number of factors can affect the final amount that you get in your pocket. A skilled buyers agent can present an offer to a seller (through the seller's agent) that appears to be a very good offer, but is carefully worded to give the negotiating advantage to the buyer. A knowledgable agent will know the difference between what is customarily paid by one party or the other, and what legally must be paid by one party or the other, and can utilize that knowledge to negotiate a better deal for the buyer. A simple phrase in a home inspection addendum could potentially cost a seller tens of thousands of dollars in repairs, while not properly disclosing needed repairs could potentially cost a sellers tens of thousands in legal problems.
The type of loan can also have a substantial impact on the cost to the seller. Some loans may require a seller to pay expenses that may not be required with other types of loans. The type of loan can also have an affect on the likelihood of ever getting to settlement, and if the sale never makes it to settlement, that can be very costly to a seller.