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The Linda Lom Client Guide

Your Guide to All Things Buying, Selling, Home-Ownership and Washtenaw County

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Linda Lom Client Guide - Important Points to Remember

Linda Lombardini

"Linda is the consummate professional when it comes to dealing with real estate in the Ann Arbor area...

"Linda is the consummate professional when it comes to dealing with real estate in the Ann Arbor area...

Jan 6 2 minutes read

Important Points to Remember

  • Your parents, family, or friends can contribute to the purchase of your home by way of a ā€œGift Note.ā€ Ask us for details about this simple procedure.
  • A deposit, known as an Earnest Money Deposit (EMD), in the form of a check or money order, must accompany each contract offer that you make on a home. The recommended deposit is 1-3% of the offering price. The funds will be deposited into the non-interest bearing Trillium Real Estate Escrow Account at the time of the ā€œbottom-liningā€ of the sales agreement. These funds may be in jeopardy if you back out of the transaction for no significant reason.
  • If you are serious about buying a particular home, it is important to price your offer correctly. You donā€™t want to lose the home to a better offer.
  • When your contract offer is presented to the sellers they can accept, reject, or make a counter offer. Only when the sellers accept your offer and you accept theirs do you have a binding contract for sale.
  • Excellent buys are often made on homes that require a little paint and soap. Two identical homes can be priced very differently when one needs only a minimal amount of work.
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