Have you found your ideal Wayne County Home, or is it an Oakland County Home, or is it a Livingston County home, Or Washtenaw County Home? After you search of Michigan homes for sale you have finally chosen one home that you like.
NO, YOU CAN NOT MAKE MULTIPLE OFFERS AT THE SAME TIME ON DIFFERENT HOMES TO SEE WHICH ONE WILL TAKE THE LOW BID. What would you do if they both accepted? You could not buy both homes. That is why you can not make multiple offers.
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- HOW DO I MAKE AN OFFER?
Your local real estate agent will assist you in making an offer, which will include the following information:
- Complete address and legal description of the property
- Amount of earnest money (how much you are putting down as good faith)
- Down payment and mortgage financing details
- Proposed move-in date
- Price you are offering
- Proposed closing date
- Length of time the offer is valid
- Items included in the sale
Details of the dealIt is a fine line between insulting a seller and getting a good price. In a buyers market anything goes usually. It is not unusual in 2007 to see an offer of 10 -15% less than the asking price. But, remember that a sale commitment depends on negotiating a satisfactory contract with the seller, not just making an offer. The key is to try to keep the negotiations going. Once it stalls it is hard to get it going. that is where we earn our money as Realtors and buying agents. Trying to get you the house and a low price.
- HOW DO I DETERMINE THE INITIAL OFFER?
Unless you have a buyer's agent, remember that the agent works for the seller. Make a point of asking him or her to keep your discussions and information confidential. Listen to your real estate agent's advice, but follow your own instincts on deciding a fair price. Calculating your offer should involve several factors: what Wayne County homes (or Oakland County Homes, or Livingston county homes) sell for in the area, the home's condition, how long it's been on the market, financing terms, and the seller's situation. By the time you're ready to make an offer, you should have a good idea of what the home is worth and what you can afford. Your buyer's agent (Russ Ravary cell (313) 310-9855) will have pulled recent sold homes in the area that are similar. You then have the information to make a good decision on what price to offer. You know that it is the best home on the market for you and it is the best deal compared to the other homes you have looked at. You may know that it is a relocation, estate sale if the home is vacant. I will have told you how long it has been on the market. All these things factor in on what to offer.
Be prepared for give-and-take negotiation, which is very common when buying a home. The buyer and seller may often go back and forth until they can agree on a price. Sometimes it goes quickly. Sometimes it is slow and nerve racking.
Remember once the seller counteroffers it is not a contract until you agree. You the buyer can back out if you do not like the offer.
Take a relaxed attitude toward the process. Make up your mind on whether you want the house and what price you are willing to pay for it. Remember do not let little items kill the deal. Negotiate it out. It will pay off in the end and you will get the home you want. Sometimes you have to step back and take egos and emotions out of it to get the deal done.
I have seen deals almost die over a ground fault plug. Why let a $200,000 house go over a $100 repair. Sometimes people take it personally when negotiating. Put yourself in the seller's place... it is normal to try to get as much as possible. You as a buyer want it as low as possible so the key is to work it out. You will get that piece of Livonia real estate, or Michigan real estate at a fair price. Work hard to negotiate it to get it done.
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