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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A Livonia home seller there are two documents that you will have to fill out and share with buyers. One is a Lead based paint disclosure if your home was built before 1978. Paint that was manufactured before 1976 had lead in it.
In Michigan you need to disclose if you have any reports about lead based paint in your house. Another document you will have to fill out is the Seller’s disclosure. This form is about the age of certain items, whether items are part of the sale, and whether they are working. They ask about basement and roof leaks.
Be honest and fill out the form correctly. Failing to disclose something could end up in a lawsuit. It is better to disclose an item than to be sued later. I hope these Livonia home seller tips help you understand some of the paper work that you will be filling out.
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When you are closing on a piece of Novi real estate here is the information I send out to my buyer clients to help them prepare the week before.
Closing is Friday on February 17, 2012 @ 1:00pm
You will do the walk thru at 12:15. A walk thru is just to make sure the house is still standing, not damaged and items are still there. Only takes about 15 minutes at most. You just want to make sure the furnace, hot water tank is still there. That the owner is moved out and that there hasn’t been damage done to the home since you saw it.
We will be sending you real estate documents to look thru prior to closing. THESE ARE NOT YOUR FINAL NUMBERS. Your mortgage person will get you those so keep in touch with them. These are just real estate documents that you will see and sign at closing. They do not include mortgage costs. You will make the cashier’s check out to yourself and sign it over to the title company at closing. IT HAS TO BE A CASHIERS CHECK.
YOU MUST ALSO BRING YOUR DRIVERS LICENSE to the closing. Closing can take from ½ hour to 1 ½ depending how fast you sign. At closing you must sign all the documents or you are not going to get the loan. You cannot change the banks documents or the wording. You should ask your mortgage loan officer to get you a closing package to read prior to closing. That way you will have read over them, and be ready to sign them. That is why we send you the real estate documents beforehand.
You need to call the utility companies to set up your utilities to come on the day of closing. This is very important as the seller will be shutting them off that day. Not having them could cause the pipes to freeze or having you have to sit there waiting for the utilities if they are shut off and you do not have them scheduled to be turned on.
DTE – 800-477-4747
Consumers 800-477-5050
Water is automatically switched over when you file the property transfer affidavit (you will sign and get the form at closing) We will explain what to do with it at closing.
If you have any questions for me about the closing feel free to call or email me.
This is just a sample of what you should be doing the week before your Novi real estate closing.
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I will give you a quick Northville real estate update on one of the biggest issues Northville home buyers are facing as February 2012. It is the lack of inventory and the competition of other buyers.
If a piece of Northville real estate is priced right it is selling within a month. Many times there is more than one offer. So home buyers that are looking in Northville are many times not getting the first property they are bidding on. In fact some houses are going so quick that they are sold before the home buyers even get a chance to look at them.
It is a common statement for me to here from a home buyer that comes from another agent. I’m finding houses but they are sold before I even get to see them. The key is get daily emails from your buyer’s agent. Or you must look at Realtor.com daily. That is the best place to look for updated listings if you are buying a Northville home. All of the realtor’s listings will be updated on Realtor.com because our MLS systems feed into that site first. Then it is feed into other sites.
So check on Realtor.com about 1 or 2 in the afternoon and then call me with the MLS numbers. That way you may be the first person into that home that night. So if you want to be successful in buying a piece of Northville real estate get listings emailed to you daily and look for listings yourself daily.
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Should you buy a Livonia short sale? I was asked if my first time home buyers should buy a Livonia short sale. The first major question I had for them is do they have patience and could they stand waiting for months without knowing anything. That is two of the major issues with a Livonia short sale. It could be up to six months before we get a bank approval. Do you really have the patience to wait that long for a short sale?
Be honest with yourself because I’m not lying to you. It does take that long sometimes. Any sooner is luck. After about 3 months you will be calling me every ten days. About 4 months most people are starting to call me and ask me if I have heard anything.
The problem is that the banks short sale department is short staffed. Sometimes these bank negotiators are handling 400 different homes. So your Livonia short sale is not that important in their world.There is no way to speed them up. Sometimes they do not respond by phone. Sometimes it takes days to get any type of response.
So you have to have patience and be willing not to know anything about your Livonia short sale sometimes for weeks and months.It just takes time before the bank makes a decision. Feel free to call me on my cell if you are thinking of short saleing your Livonia home. (313)310-9855
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Buying or selling a home in the suburbs of Metro Detroit? I know the area well and understand what is happening in our local market. I will work hard to get you the best deal possible.
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