Tennitia Wilson, broker-owner of Cosmopolitan Real Estate Services in Detroit, has been counseling sellers across Michigan since 1990. As more homeowners face time-sensitive sales this year, Wilson emphasizes that understanding net proceeds before an offer arrives is critical to protecting equity.
Wilson reports seeing stronger interest from investors and cash buyers earlier in the year than usual. These buyers are often drawn by owners needing to sell quickly due to job changes, family situations, foreclosures, or moves to senior living. While these homes can sell in as little as two days, Wilson warns that speed can lead to lost value if sellers do not know their numbers.
Her central advice is to prepare a seller’s net proceeds worksheet before listing. This worksheet shows what the seller will actually walk away with after closing costs, commissions, and other fees. When an offer comes in, Wilson updates the worksheet to reflect the real terms, allowing the seller to evaluate the deal based on net proceeds rather than the gross price. For example, a home listed at $155,000 drew an offer of $165,000, but the buyer requested $9,000 in closing costs plus agent commissions, which significantly reduced the seller’s net.
Wilson also cautions against unlicensed wholesalers who move too fast to lock up properties below market value. She advises owners to slow down and seek professional guidance to capture the full value of their home. Many distressed sellers are dealing with emotional situations such as death, divorce, or income loss, making experienced representation essential.
In Detroit, Wilson notes that closings often require patience. “Many Detroit houses do not close on the first buyer,” she says, as financing issues can derail deals. She recommends working with an agent who has managed multiple attempts to get a sale to closing.
For owners facing a fast sale, Wilson’s message is practical: understand your numbers, get professional representation, and do not let urgency force you to surrender equity. “You want to buy or sell and have a good experience,” she says, and with proper preparation, even a difficult sale can end well. More information is available at cosmopolitangpshome.com and on the company blog at cosmopolitangpshome.com/blog.
