Should You Pay the Closing Costs as a Seller?

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Is it good for the seller to pay the buyer's closing costs? A lot of sellers say they absolutely will not do so, and my question for them is, why not? 

As a seller, the most important thing you want to think about is what you want to net. It's not about how much money you get, it's about how much money you keep.

Here's a very common scenario. Let's say you had a house to sell and you want to net $100,000. Let's say a buyer wants to buy your house, and they have good credit, a good job, and they can get a mortgage, but they don't have a lot of cash for the closing. Would you let them buy your house for $106,000, and then give them $6,000 for their closing costs? You would still net the $100,000!

At the end of the day, it's absolutely fine to pay a buyer's closing costs as long as you hit your net number. If you can hit your net number, then I say pay the closing costs. If not, it's back to the negotiating table.

Just remember that it's all about your net number. If you have any questions, give me a call or send me an email. I would be happy to help you!

When Is the Best Time to Sell Your Rochester Home?

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Is selling your home at the end of the year a good idea? This is a question that many people are asking, thinking that summer is traditionally the best time to sell.

The first thing to take into account is the fact that homes prices are driven by supply and demand. At this time of year, the supply of homes typically begins to dwindle. This means that if you decide to sell, you will have far fewer competitors than you would if you sold in April.

While it's true that there will be fewer buyers at the end of the year, the buyers that are out there are a whole lot more motivated. Anyone who will walk through a foot of snow on a Tuesday afternoon will likely need to find a great home as soon as possible.

The numbers say it all: last October, we closed seven houses and sold three additional properties. In November of last year, we closed three houses and sold three additional houses; and in December of last year, we closed five and sold five additional homes. I give you these numbers to let you know that people in Rochester buy all year long! 

If you're ready to sell, there's simply no reason to wait. If you would like to talk about the specifics of the selling process, give us a call or shoot us an email. We would love to hear from you!

How Our Market Snapshot Tool Can Help You

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Today, I'd like to introduce you to our Market Snapshot. I want you to be able to track the market in your neighborhood. You can see every sale, every property listed, and everything on the market that failed to sell.

One section you should pay attention to is the interactive map. You can sort properties by recently sold, new listings, for sale, pending, and expired. If you look at recently sold homes, you can see what the homes sold for and how long the properties sat on the market. This way, you know what you can expect from your own property. 

If a home in your neighborhood has a sold sign in the yard but does not show up under the recently sold homes, it might be pending. If you select pending homes on the interactive map, you can see the list price of these properties.

If you look at homes currently for sale, you can also see what properties are listed for and you can look at the details to see which home is closest to your property. Again, this helps you know what to expect from your own home sale. 

Finally, if you're thinking about selling, keep in mind that not all properties sell. If you click on expired listings, you can see all the homes that failed to sell. Again, this will give you an idea of what things went up for and what they failed to sell at, only this time, you can learn from their mistakes.

If you're interested, you will get this free report biweekly. If you would like a more detailed and specific market evaluation of your property, give me a call and I can give you a more accurate home value for free.

If you have any questions at all, please don't hesitate to reach out to me. I look forward to hearing from you!