EXPECT THE BEST NET!

   Think you want to receive the highest price possible of your home? Think again. The terms of you sales agreement may have an even greater impact on your bottom line than the price itself. Here’s why.

   When selling your home, some items are always deducted form the sale price. Examples would be paying off an existing mortgage, paying normal sellers’ closing costs and brokerage fee, etc.

   Other items are negotiable, and may increase or reduce the "net" proceeds you may receive. For example, some buyers may agree to pay the full asking price, but require the sellers to pay their loan related closing costs. These costs could be 2%, 4% or even 6% of their loan amount. When deducted from the sale proceeds, the impact can greatly reduce the amount of cash realized from even a "full-price" sale.

   Sellers, when considering an offer to purchase, should carefully analyze the "net" proceeds they would receive under the offer. Their representative can help clarify the offer by pointing out terms and conditions that may affect the bottom line.

   There are times when a "low offer" can be more attractive to property owners because it is also a "clean" offer, one with no costly special provisions.