Tennitia Wilson, broker-owner of Cosmopolitan Real Estate Services in Detroit, has observed a surge in activity from investors and cash buyers earlier this year than usual. According to Wilson, these buyers are drawn by owners who need to sell quickly due to job changes, family situations, foreclosures, or moves to senior living. While these homes often sell within two days—sometimes even off her phone—Wilson cautions that speed can lead to lost equity if sellers are not careful.
Wilson emphasizes the importance of understanding net proceeds before listing. She prepares a seller's net proceeds worksheet that outlines what the seller can expect to walk away with. When an offer comes in, she updates the worksheet to reflect actual terms, allowing the seller to judge the deal based on what they keep rather than the headline price. “If they like that bottom line, and I’m close to what I told them earlier, they’ll take that deal,” she says. This approach helps sellers stay grounded when offers include closing cost requests, commission adjustments, and other terms that can obscure the real number.
To illustrate, Wilson points to a current listing priced at $155,000 that drew an offer of $165,000—above asking—but the buyer requested $9,000 in closing costs plus agent commission and fees. Without a net worksheet, she says, the seller would not have understood the offer's true value.
Wilson also distinguishes between licensed investors and unlicensed wholesalers who pursue distressed listings. Wholesalers often try to lock up a property below its potential value and resell the contract. Her advice is for owners to slow down and seek professional guidance, as a little time and the right help can capture value that a rushed sale might give away. She notes that distressed sellers frequently face compounding pressures—such as a death in the family, divorce, or sudden income loss—which compress decisions and reduce leverage. An experienced agent can level that field.
Wilson is candid that Detroit closings can require patience. “Many Detroit houses do not close on the first buyer,” she says. Financing can shift, and a deal may need a second or third try before reaching the table. She views this not as a reason for discouragement but as a reason to work with someone who has managed such situations many times.
For owners facing a fast sale, Wilson’s message is practical: understand your numbers, get professional representation, and do not let urgency push you into surrendering equity. “You want to buy or sell and have a good experience,” she says. With the right preparation, even a difficult sale can end well. More information is available at Cosmopolitan Real Estate Services and their company blog.
