When you make an offer on a house, beware of submitting a price that exactly matches the amount you were pre-approved for. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we have seen many buyers come in with a pre-approval for the exact offer price, but when you’re competing against other offers, including cash offers, you want to show financial strength. An exact pre-approval could make a listing agent nervous because not only does the buyer not have any wiggle room to negotiate, but they might no longer qualify if interest rates rise. In this market we often advise buyers to look at homes under their max loan amount. When you have to bid against multiple offers, they will need some room to go up, and if they are at their maximum amount, that may not happen. Check out below to see what sold in Kirkway Estates in May 2017:
Trust your agent and bid accordingly—even if it means offering a little more than you think you could get away with. If you lowball the seller in the hope that it’ll spark a negotiation, it could backfire—especially in a seller’s market. For more information on Kirkway Estates, or similar Northville or Novi neighborhoods such as Bella Terra, Chase Farms and Hills of Crestwood, contact The DiMora Team today at 248-505-7728 or email@example.com.