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.
