There certainly are some good values out there, but as Keith & Ute have indicated, the bank contracts & addenda definitely favor the banks & take precendence over anything you may have put in your offer.
Do take the time to read & re-read things & for your agent to read carefully. Check on the earnest moeny requirements carefully.
& be aware that banks operate on their own time schedule. Many do not respond in a timely fashion.
I hope you will find a house that will suit you well & will have a smooth transaction..
Metro Brokers GMAC
I agree with Ute.
Many banks are providing their own contracts, and those contracts are written to protect primarily their interests. Most local contracts are written with both buyer and sellerâ€™s interests protected. While most REALTORS are very knowledgeable of their Associationâ€™s contracts; they could miss important items in a bankâ€™s contract because they are unfamiliar. While most bank contracts allow for some period of inspection, you could easily miss it in the contract if you do not know to be looking for it. I also agree that it is important to have an agent working with you who is experienced in reading and understanding bank contracts or they have someone experienced that they can go to for help.
Allow your agent time to read the contract a few times before you ask them to explain it to you, Donâ€™t be surprised if they have to discuss elements of the contract with other agents to make sure they understand them.
Your REALTOR is working with your interest in mind
Donâ€™t sign until you understand.
Coldwell Banker Devonshire Realty
303 S. Kickapoo
Lincoln, Illinois 62656