Lakefront Homes Highland MI – Highland real estate selling tips

What should you do if the buyer’s mortgage on your lakefront home in Highland Michigan falls through?  I want to give you this Highland real estate tip because sometimes your emotions get the best of you.  Recently I had a home sale fall through when the buyer lost his job.  There is nothing you can do about that.  It is a bad experience for both the buyer and seller.  But the only thing you can do is move on.

The mortgage contingency clause is in every purchase agreement.  It is their to protect the buyer if the mortgage should refuse to give them a mortgage.    The buyer puts a money out for an appraisal and for home inspection that they lose.  But the mortgage contingency clause is in the purchase contract to insure that the contract is voided and that the buyer will receive their full earnest money deposit back.

Get an added bonus when you buy your next home?  Russ not only will help you find a home that fits your needs at a great price, he also gives you a great closing gift of a new kayak, or grill, or snowblower, or lawnmower.  (up to $500 in value)

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Charlick Lake Highland MI

Charlick Lake Highland MI

Some of the reasons why a mortgage would get denied are:

  1. House doesn’t appraise
  2. The buyer quits their job, changes jobs to a lower paying job, or loses their job
  3. The buyer doesn’t have their money for down payment.  This could be that it has not been in their account long enough, or that they are borrowing it
  4. The buyer goes out and runs up more debt.  (I had buyer go out and buy a car, and buy furniture)  They now had too much debt and no longer qualified to get the loan.

Their is no reason to worry about these things.  Most mortgages go through and it is a very small number of deals that fall through.  But what I am trying to stress is that you need to move on.  When this first happens you are going to be upset.  It is a natural reaction.  I would be upset too, but there is nothing you can about it.  The best thing you can do is put your emotions aside.  Then sign the mutual release quickly and get your home back on the market.

lakefront homes Duck Lake Highland MI

lakefront homes Duck Lake Highland MI

Their is nothing you can do, nothing the buyer’s agent could do, nothing I could do, and nothing the mortgage company could do.  It may be the buyer’s fault, it may be due to the mortgage company’s guidelines.  It does not matter as it is not going to close.  So let’s get the mortgage release signed and get  your Highland Lakefront home closed with another buyer. I hope this article on Lakefront Homes Highland MI – Highland real estate selling tips helps you in your home selling process.

To get the latest lakefront foreclosures emailed to you by joining my Lakefront VIP club search Oakland County Lakefront  VIP club  Don’t miss out on the best deals.  You will see the newest lakefront homes as soon as they hit the market.

Winter is coming soon.  There will be snow and ice on the ground in the coming months so here is how to find a home in the winter.  Winter home Buying tips – Milford MI real estate.    If you are wanting an  All sports lake near Metro Detroit a couple of lakes nearby are Brendel Lake in White Lake MI which is a long narrow lake that is just south of M-59 near  Elizabeth Lake Road or maybe  Lakefront Homes for Sale Clark Lake in Commerce Township Michigan may be better for you.

So many sizes of lakes in the Metro Detroit area.  Some are just ponds that are mucky and are not even good for swimming.  Some are great for watching wildlife like Clam Lake  in Waterford Township or Bridge Lake in Clarkston Michigan.  If you are looking for more of a subdivision feel then Clam Lake Waterford Township

Charlick Lake Waterfront Properties

Remember we give a buyers bonus when you buy a home with us as your realtor

*BUYER'S BONUS DEAL* call for more information call Russ Ravary at (248)310-6239

*BUYER’S BONUS DEAL*
call for more information call
Russ Ravary at (248)310-6239

 

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