When Selling your Arizona Home, are you Focusing on Gross over Net?
I have seen a lot of Arizona Home Sellers that hold out for a full price offer, when they should be looking at the larger picture. They are waiting for that offer only because a neighbor had the same square footage and received it, when they need to ask what condition was their home in and what was the final net proceeds they received?
Here is a scenario I ran by sellers that were holding out for full price and not fully understanding the bottom line:
"An investor is willing to go up to $317,500, with an AS IS offer, not asking for any closing costs, quick close and reduce buyer broker commission to 2%.
Attached are 2 net sheets. The first net sheet is based on the above offer and the second net sheet is based on an offer you may or may not receive at $330,000 in 1 month. This 2nd net sheet is based on a non-investor buyer that normally asks for 3% seller concession to pay for their closing costs, a Home Warranty and you paying full commission.
If you look at both seller net proceeds, the investor offer would actually net you more. You also should consider that if you get a $330K offer in one month, you would not close for at least another month, which puts you out 2 more mortgage payments and 2 months of utility expenses. Also, most buyers will request repairs upon inspection completion (the property needed some work), which if you say no, could break the deal. Then you are back to square one with buyers now wondering what is wrong with your home...and it could end up costing you much more."
With that explained, they fully understood and happily moved forward to closing.