Buying a home for sale in Novi, Michigan is no walk in the park. It is not entirely a seller’s market. The sellers market keeps popping one out and if you are right on time, with the right offer, you might get lucky. This is why it is important to let a realtor handle this job because not only do they have up-to-date knowledge about the real estate market but they have some savvy skills to tip the offer in your favor.
When entering the bidding war, remember one thing: sellers are fickle. When they see a better offer coming their way, they abandon the buyer they are dealing with. This is why you need to be on your A-game when purchasing a house.
Understanding the Sellers Market
When the demand for the house is higher than what is available in the market, it means you are dealing in a sellers market. This type of market strives on one thing and one thing alone: competition. To prevent your offer from drowning in this competition, follow these five tips to get your offer at the forefront:
1. Have the Mortgage Pre-Approval Letter Ready
The mortgage pre-approval letter shows the seller that you are a serious buyer. The moment the final asking price is settled, get in touch with your lender and get the mortgage ball rolling. Show the seller the mortgage papers, so that he doesn’t pursue other buyers.
2. Hire a Realtor
As mentioned earlier, the realtor will make sure that the offer you are receiving is in your benefit. In case you feel that certain clauses mentioned in the contract don’t look good, the realtor will be at the negotiations table again, to make sure that you are happy.
3. Learn to Compromise in a Seller’s Market
There’s a high possibility that you might not find some of the amenities you were looking for in your home for sale in Novi, Michigan. This doesn’t mean that you should walk away from a good offer. Remember, never go for houses that are listed at a high price because the seller might not lower the price and then you will be left disappointed.
4. Higher the Down Payment, Higher the Chance of You Getting the House
20% is the ideal down payment that every buyer loves. This will give you an edge in the competition and the seller will be more inclined towards selling you the house.
5. Speed Up the Home Inspection Process
When you have put down the earnest deposit, you cannot back out of the deal or you will lose this money… unless the seller lied about something on the home inspection report. You are given a time period of 2 weeks, where you need to conduct all your investigations about the house. Get the home inspection done in the first week and spend the second week in calculating repairs to see whether the house is worth it or not. Will the house bring your profit when you will sell it in the future? These two weeks are crucial because after they have passed, you won’t get your money back even if you back out of the deal thinking you don’t like the house.
Ready to dive into the seller’s market with your realtor? Follow these five tips and you will find your home for sale in Novi, Michigan in no time. If you want to buy a house that falls under your budget and has all the features you need, then visit Homes2MoveYou. Get in touch with a real estate agent and start seeing houses in areas of your liking.
Is Your Novi Real Estate Agent Getting You Maximum
What can your Novi real estate agent offer you? That is the question you ought to be asking yourself these days. With the huge shift in traditional marketing methods to the internet, and now social media/networking platforms online, it pays to do your homework before signing any contracts.
Although nearly 90% of Novi home buyers and sellers are turning to the internet for their real estate related needs, a depressingly lower amount of Novi Realtors are actually taking the time to learn about online marketing strategies. This can be detrimental to your exposure and/or finding the best deals possible.
Unfortunately, many agents and brokers are still stuck in the stone age of marketing, and refuse to accept change within their own industry. Although traditional methods still hold some weight when advertising a home, you could be missing an enormous piece of the pie if you do not work with an agent that is also innovative and tech savvy.
Here is a List of Questions You Should Be Asking During an Interview:
1. “What types of social marketing do you employ?” Let’s face it. If your Novi agent is not investing the time into building a Facebook, Twitter, LinkedIn, Google+ following (or the host of other media available today), then there are literally hundreds of home buyers and other professional contacts that are slipping right into the hands of their local Novi competitors.
We are in the day and age of networking, and word travels at the speed of light. Therefore, your agent should be promoting your home on all of the following platforms by building specific pages and listings for your property where buyers can instantly find you. This will give you maximum exposure.
2. “How do you capture leads?” On the other hand, not only is it important for your agent to network and promote your property online, but they also need to collect the necessary contact information from website visitors in order to do business with each prospect.
Therefore, your Realtor should have their own website with an active blog, in order to keep in constant contact with their audience. By marketing on Craigslist, Google, Youtube, article directories, and any other medium available, your agent should be able to drive traffic back to their own sites.
Next, each person should be directed to some form of lead capture where they can enter their contact information for further updates on your Novi listing. This could also include using mobile marketing, which will allow people to offer their cell phone number in exchange for property details. QR and/or text codes can be included on websites or even signage and postcards.
3. ”How do you follow up with your leads?” Finally, can you be certain that your agent will go to work for you? Regardless of how many leads they may generate, if they do not have an effective follow up plan in place to build relationships and get buyers taking action, then your efforts could be wasted.
It is important that your Novi agent spends the time to build effective email campaigns, submit updated blog posts and social media updates, and make direct phone calls to incubate each lead and ensure that action is taken while leads are still hot.
Also, can they provide strong evidence of quantifiable results with their real estate marketing campaigns, and are you confident in their ability to sell your Novi home? Do you see the potential of getting a head above the rest and truly taking advantage of all the resources that are available at your fingertips?
By carefully reviewing all of the above criteria before choosing an agent, you will be able to ensure that you are receiving the best attention and service possible. If you are interested in setting up a time to review our in depth presentation on how we will put our comprehensive marketing strategies to work for you, please contact us today. We guarantee you will not be disappointed!
The city of Novi, Michigan is located in Oakland County and spans 31.28 square miles, with 1.02 square miles of the span being water covered. The city is 25 miles from both Detroit and Ann Arbor making it centrally located among employment, entertainment and educational opportunities. Novi is a sister city with Owani, Japan and is home to many notable people such as six Swedish players from the Detroit Red Wings hockey team. The city is governed by a council-manager system which includes an appointed city manager and an elected council. The city respects the rich history of the area and is home to four historic sites; Historic Township Hall, Novi Depot, Tollgate Farm, and the Colonel Samuel White Homestead.
Throughout most of its early history the area was predominantly rural farmland. A settlement or town was not officially recognized until the early 1800s. Subsequently, the township of Novi was organized and named in 1832. Construction of roads and railways helped spur growth in the early history of the township. The Grand River toll road was constructed in 1850. The Holly, Wayne&Monroe Railway, which is now known as CSX Transportation, was constructed through the area in 1870-71. The city was officially incorporated in February of 1969.
According to the United States Census of 2010, the city of Novi was home to approximately 55,224 people, giving the city a population density of about 1,825.0 people per square mile According to the United States Census of 2000 the median household income in Novi was $71,918 and the median family income was $91,369. Annually, Novi holds the largest Japanese Festival in the entire state. With this festival and the sister cityship with Owani, Japan, Novi is thriving affluent community that embraces diversity and encourages a more global outlook on life.
Novi has acres of beautiful park land and wildlife areas and maintains a warm small town atmosphere, despite its size. Ella Mae Power Park features a Civic Center and many activities connected with the Civic Center as well as hosting baseball and softball tournaments on its beautiful ball fields. Homes for sale in Novi range from starter homes and fixer-uppers up through luxury homes with sprawling yards. Apartments, duplexes and houses are available for rent and lease properties include condominiums and townhouses. Contact local real estate agents for assistance in finding your dream home in bustling and beautiful Novi, Michigan.
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