Wednesday, August 22, 2007

Seller's Assist and the "But THEY got $ for their house!"

Do you know that the price listed as the "sales price" in the Real Estate Transactions in the paper is sometimes $5-10-15 THOUSAND dollars less than the true sales price?

In today's real estate climate, we are seeing the rebirth of "Seller's Assist." This is when the Buyer offers you a certain price for the home with the agreement that you are going to "kick back" some of the money at settlement to go towards their closing costs (or mortgage discount points, or repairs, or "decorating allowances"). It's important when you are pricing your home for sale that you get the NET sold price - the sale price minus any credits.

In the past few Comparative Market Analysis that I have done, I've had at least 2 of the comparative properties have some sort of credit given at settlement. It's important that you know that the price published in the paper is often grossly different from what the Seller walked away from the table with.

Have a question regarding Seller's Assist, or want to check the net sold price of a recent sale in your area? Shoot me an email and I'll get you the information!

No comments: