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Over the years I have worked with many buyers and sellers. Buyers always are looking for an incredible buy, the buy of a lifetime. Who doesn’t want that?
I remember many years ago attending an open house of a property that was being offered for sale by a lender. The property was held open only for a period of two hours and for only one particular day. There were cars parked along the street for several blocks with both the curious and the serious. At the asking price, this was an incredible deal.
I have no idea why there was such a limited inspection window of time and why the low asking price. But then, I have no idea why lenders do what they do when trying to sell property. Lenders make terrible sellers.
The next day, at 12 noon, was the deadline for all offers to be presented for the lender’s consideration. Needless to say, there were multiple offers, over three dozen. The highest offer was accepted and this house was sold.
When we were writing up our offer, I remember overhearing a prospective buyer telling his real estate agent. “If you come across a good deal, give me a call.” I could not help wonder if they had looked at the same property.
Whether you are buying Michigan real estate as an investment, or you are making an offer on your first home, do your homework on the market. Become an expert yourself. Then and only then you will recognize an incredible buy when you see it.
P.S. I saw this sign and was grateful to have my camera with me. I used Photoshop to remove the phone numbers.
So, I went out in pursuit of a pair exactly like the ones I had. When I got to the store, I found they didn’t have what I wanted, but I found a good sale on another pair. They were nothing like what I was looking for, but I couldn’t pass up the great deal.
Now that I have the shoes, I really don’t like them. I haven’t worn them, and probably never will.
Not such a good deal after all! I should have waited, looked around a little more and bought the shoes I wanted.
Too many people make the same mistake in buying lake front or water front property. Most prospective buyers start their search knowing exactly what they are looking for; some want the quiet privacy of a fishing lake, others are looking for the action of an all sports lake. Some want their piece of paradise far from civilization, others want to be close to the action.
And then they go out shopping…. and they find a GREAT deal. No, it is not what they are looking for, but the price is right. So, they make the offer and settle in. And they are disappointed. They wanted quiet and seclusion and all they hear is speed boats and laughter. Or, they wanted to hear speed boats and laughter and all they hear is birds singing.
So, my advice to you is, take your time and look for the perfect piece of property for you. It may take longer and it may cost a bit more, but it will be well worth it in the long run. You and your family will be glad you did.
The State of Michigan has well records on line. Close to one million are listed and are available to search at no charge. The site is easy to use. You will be asked for the county, then the township and finally the section number.
In my due diligence, I have used the site many times and found the site to be very beneficial in uncovering lots of information. For an existing well, it tells of the depth of the well, the diameter of the well, the age of the well, the static water level, the installer and other technical information.
I have also used these reports to tell me about soil conditions in the area. The well driller, when drilling a new well, records the types of soil he encounters and at what depth he finds them. This information can be very useful when locating proper soil conditions needed for a septic system.