You might wonder what “under contract” means when searching for a house. The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we know that “under contract” is more or less a meeting of the minds. The buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies. When a seller decides that it’s time to put their house on the market, they’ll reach out to an agent who then will research the property and collect data about the neighborhood. Then they’ll meet with the seller to go over the information they’ve gathered and they’ll recommend the listing price. If the seller agrees, the agent will present them with a listing agreement and explain the terms before both parties sign. The offer letter outlines how much you’re willing to pay for a property, however, we sometimes see a buyer offer to pay part of the closing costs to sweeten the deal. Check out below to see what sold in Northville Commons in April 2020:
42043 Baintree Circle, Northville: 4 bedrooms, 2 bathrooms, 2,126 sq. feet, 2 car garage, Sold Price: $315,000
Northville Commons Home Sold
April 2020
If a buyer chooses to, they may be able to wrap the closing costs in with their loan. However, please note that not all lenders will do this, and oftentimes closing costs will have to be paid out-of-pocket. For more information on Northville Commons, or similar Northville or Novi neighborhoods such as Dunbarton Pines, Maple Hill and Royal Crown, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.