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If you want to keep a good relationship your real estate agent do not accuse them of trying to get you to put in a higher offer just for the commission increase. I have never had this happen to me, but one of the agents said a client of hers accused her of that this weekend.
I myself will put in any offer you say. But many times I will warn home buyers that their offer will be straight out rejected or the seller will refuse to even counter back. As agents we know the market and the difference between the list and sales prices. I call that the spread. I can guess many times the range where the home will sell at.
The key is putting in an offer low enough to split the difference between your offer and the list price to get you to an acceptable price to pay. Many times the end negotiation is split between your initial offer price and the list price. So we want you to craft an offer that will get the seller to respond and to be able to negotiate the price.
The real estate agent’s client accused her of getting her to inflate her offers and counter offers to make more commission. That is not what is all about. A price increase of a $1000 is a $30 commission. I don’t even figure out the commission. My goal as an agent is to get you the home you want at a price you want. So do not ever feel obligated to any agent to raise your price. Just do not complain when you do not get the house. Do not complain when the seller refuses to counter.
Like I said we know the market and have negotiated hundreds of offers.We want a successful negotiation and closing. We want you to be happy. Just do not tick off the agent like the agent’s today did by accusing her of trying to inflate her offer to make more commission. She was just trying to get you to a successful negotiation.
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Farmington home buyer tips – what if I decide I don’t want to buy the home? For no reason in particular I just want out of the purchase agreement.
If this happens before the home inspection you might have a chance to get out of it if there are some inspection issues. You can use the inspection issues as a reason to get out. Then you are safe and you can get your deposit back.
The other way you could possibly get out is if you don’t qualify for a mortgage any more. You would need to get a mortgage denial letter from your lender. Then you could get your deposit back. I as your agent have to send that along with a mutual release to the listing agent to get your money back.
If you just want to get out of buying that Farmington Hills home and the inspection has passed and your mortgage company won’t give you a denial letter then you are going to lose your earnest money deposit.
You can’t just change your mind and not expect to lose your earnest money. The seller has a valid contract and if there is no reason to get out they have the right to your deposit. It doesn’t matter if it is a Farmington Hills home or any home in Oakland County
If you have any questions in buying your Farmington home, please give me a call or email me.
(313)310-9855
Relocation to Michigan? Search Farmington Hills homes for sale It's a great place to live!
More on Farmington Hills real estate
If you are buying a Farmington MI home then this will help you gauge what some of the price per square foot are.
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Farmington MI real estate and city information
Farmington Hills MI relocation information
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Farmington, Mi Household Hazardous Waste Drop Off 2011
Saturday, May 7th, 2011 from 9am until 2pm
Farmington, MI residents are included in The City of Farmington Hills yearly Household Hazardous Materials Drop event.
This year, the event will take place in a new location. 27055 Orchard Lake Road, Farmington Hills, MI 48334 at the OCC (Oakland County Community College) Orchard Ridge Campus northeast parking lot.
You can enter the campus from Farmington Rd or Orchard Lake Rd, between 11 Mile and 12 Mile Rds.
Residents of Farmington, Farmington Hills, South Lyon, Lyon Township, Novi, Walled Lake, Southfield and Wixom are eligible to take advantage of this great even. You must have a driver's license or other proof of residency.
Common household items will be accepted including:
For a complete list of acceptable items call 248.208.2270 or visit the Recycling Authority's website at www.rrrasoc.org.
Farmington, MI Household Hazardous Waste Drop Off 2011
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Here is the latest list of Farmington MI foreclosures. There are currently 43 Farmington MI foreclosuresthat have been on the market an average of 67 days. They range from $13,900 for a 680 square foot range up to $465,000 for a 4050 square foot colonial.
44785 Five Mile Rd, Plymouth, MI (734) 414-3261
Actually for an Oakland County city that is quite a few foreclosures in Farmington as compared to other cities.
Search other Metro Detroit area foreclosures and get the latest listings emailed to you weekly
Listings and photos courtesy of Real Comp II Ltd.
Farmington homes for sale and Farmington Hills relocation information
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