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Lakes of Northville Real Estate Sales Report in November 2015

There are three kinds of contingencies that can be applied to an offer on a house.  A home inspection contingency could well be the most important one.  It gives the buyer the right to have the home professionally inspected.  If something is wrong, the buyer can request it be fixed or they can back out of the sale.  The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know if something is wrong with a house, a good inspection will find it.  Next, a mortgage contingency protects the buyer and seller from getting into a sale without a proper loan.  Under this contingency, the buyer has a specified time period to obtain a loan that will cover the mortgage.  If the buyer can’t get a lender to commit to a loan, the buyer has the right to walk away from the sale with the down payment.  Finally, a appraisal contingency, a third party hired by the lender, evaluates the fair-market value of the home.  In the instance the appraised value is less than the sale price, the appraisal contingency lets you back out of the deal.  Check out below to see what sold in Lakes of Northville in November 2015:

17611 Farmcrest Lane, Northville:  4 bedrooms, 2.1 bathrooms 2,811 sq. feet, 2 car garage, Sold Price:  $375,000

Lakes of Northville Home Sold
November 2015

These contingencies are mainly put in place for the buyer to back out of a sale if something goes wrong, usually without losing their deposit.  For more information on Lakes of Northville, or similar Northville or Novi neighborhoods such as Roma Ridge, Turtle Creek and Northville Colony Estates, contact The DiMora Team today at 248-505-7728 or

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