If you have accepted an offer on your house and another offer comes in, what can you do? If the current offer has contingencies such as inspections or financing, you could accept the second offer as a back up offer contingent upon the default of the first parties in releasing their contingencies when due. The second party may elect not to proceed as it ties them up waiting to see if the first party defaults, so the amount of time for these contingencies to be released is important. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that in the event that the first deal falls through after inspections or if the buyers do not get a mortgage you can then go with the second offer. Check out below to see what sold in Jamestowne Green in November 2015:
45135 Yorkshire Drive, Novi: 3 bedrooms, 2 bathrooms, 1,547 sq. feet, 2 car garage, Sold Price: $265,000
Jamestowne Green Home Sold
November 2015
You could also offer the first buyers some sum of money to terminate if the second offer is indeed much better. For more information on Jamestowne Green, or similar Northville or Novi neighborhoods such as Abbey Knoll, North Hills and Briarwood, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.