When you’re buying a house, there are a lot of unknowns — and once you’ve bought a home, you’re committed, usually for years. Contingency clauses in your home offer can take away some of the uncertainty of buying a home by detailing conditions that must be met before closing. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that contingencies help you anticipate potential problems and — if the problems aren’t resolved — let you cancel the home-purchase contract without penalty. Check out below to see what sold in Meadowbrook Glens in July 2015:
41968 Cherry Hill Road, Novi: 3 bedrooms, 1.1 bathrooms, 1,423 sq. feet, 2 car garage, Sold Price: $185,000
Meadowbrook Glens Home Sold
July 2015
42123 Cherry Hill Road, Novi: 3 bedrooms, 2 bathrooms, 1,497 sq. feet, 2 car garage, Sold Price: $197,395
Meadowbrook Glens Home Sold
July 2015
24263 Hampton Hill Street, Novi: 3 bedrooms, 2.1 bathrooms, 1,640 sq. feet, 2 car garage, Sold Price: $210,000
Meadowbrook Glens Home Sold
July 2015
24474 Kings Pointe, Novi: 4 bedrooms, 2.1 bathrooms, 1,868 sq. feet, 2 car garage, Sold Price: $264,900
Meadowbrook Glens Home Sold
July 2015
One very common contingency is the mortgage contingency. It states that a buyer will try to get a particular kind of mortgage at or below a certain interest rate for a set amount of the purchase price (generally 80 percent) by a specific date before closing. If the buyer is unable to secure a loan at the stated terms, they can back out of the contract, and the earnest-money deposit returns to the buyer. For more information on Meadowbrook Glens, or similar Northville or Novi neighborhoods such as Simmons Orchard, Village Oaks and Whispering Meadows, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.