Verbal Counter offers

Well you sent over a written offer on a Novi home for sale.  The seller countered back and you counter back.  And the seller accepted.  Great you say.

But hold your enthusiasm.  A real estate transaction is not done until the contract is signed.  It is not done until it is bottom lined and all changes have been initialed.  It doesn’t matter that a purchase offer has been verbally agreed upon.  In the court of law a verbal real estate deal doesn’t mean anything.  A real estate transaction must be in writing to be enforceable.  A real estate agreement must be in signed by both parties and in writing to stand up in court.  A verbal agreement doesn’t mean squat.

Another offer could come in and the seller can go with them.  The seller could change their mind and their is nothing you or I could do about it.  I always want the signed documents back as soon as possible so there are no changes.  A fully signed deal is piece of mind for you as my home buyers or home sellers.  Remember the seller has no loyalty.  They are going to the highest price even if you have been negotiating for a week back and forth.  My suggestion is to negotiate and sign quickly.

So if you are signing documents get them signed as quickly as you can.  That’s the best advice I can give you.  Whether you or your spouse is out of town, working or in meetings get the documents signed, scanned or faxed back.

In this age of technology you have a FedEx Kinko’s within 20 miles, you have a friend with a fax or scanner.  Get the documents back as soon as possible.  It’s in your best interest.

If you are looking for waterfront listings in Oakland County Michigan or maybe just a piece of Novi real estate the more you know about the home buying process and the local markets the easier buying a home will be.

Do you know where Wing Lake in Bloomfield Township MI is?  It is a very quiet lake.  If you are looking for action then a lake like Lake Orion in Oakland County may be for you.

 

Russ Ravary your Metro Detroit real estate specialist


 

My quote of the day is:

… As we, the leaders, deal with tomorrow, our task is not to try to make perfect plans.
…Our task is to create organizations that are sufficiently flexible and versatile that they can take our imperfect plans and make them work in execution. That is the essential character of the learning organization.
- Gordon R. Sullivan & Michael V. Harper

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