1. The Buying Process

2. Provide your agent with information about property you are looking for.

3. Purchase Agreement
-Your agent will show and explain the purchase agreement with you.
- Making an offer to purchase.
a. Consideration - Earnest Money - will be required from the buyer on all offers.
b. Buyer may make an offer to purchase a listed parcel of real estate for a reasonable amount.
- Your agent will communicate the written offer to the Seller

4. Contingencies.
- A buyer may make an offer that is contingent on various factors that must occur before they will purchase, such as the ability to obtain financing or subject to their spouse approval or sale of their home, etc. Contingencies must have a time factor disclosed for their removal
For Sale by Owner - If you spot a For Sale by Owner sign or ad, let your agent know and they can usually arrange a showing of the property with the owner.

5. Counter Offer
- Should a buyer offer less than the listed price the seller has three basic options:
o Accept the offer
o Counter the offer
o Decline the offer
- If a counter offer is made, the buyer then has the same three options as outlined above. Your agent is trained to help you through this process.

6. Your buying decision
- When deciding on a property, you should be confident that you can purchase it. This means your financing should be in place.

7. Financing
- There are numerous ways lenders have to help buyers obtain loans. Contrary to popular beliefs - LENDERS WANT TO MAKE MORTGAGE LOANS!
- Most lenders today sell loans to big investors all over the country and this is called "The Secondary Mortgage Market". This allows small and large local banks access to almost unlimited amounts of money for loans that they would not have available if they were lending just their own funds.
- In addition to Conventional Financing, some owners offer to sell their properties on a Land Contract. This method puts the owner in the position of the bank and the payments are made directly to the owner.

8. Closing
- There are expenses relating to the closing of a Real Estate transaction, the seller generally pays some of these and the buyer generally pays some of these.
- Buyer -
o Mortgage Title Insurance Expense
o Credit Report Fee
o Tax Pro Ration
o Appraisal
o Recording Fees
o Survey
o Mortgage Report

- Seller -
o Title Insurance
o Documentary Stamps (Transfer Tax)
o UnPaid Taxes
o Commission
o Tax ProRation


Open 7 Days a Week (Mon.- Fri. 8:30-6:00)

Corner of M-33 and M-72 Mio, Michigan To make an appointment to see any of our listings or to get more information, just contact our office: CONTACT US EMAIL US 989-826-3292 FAX 989-826-2108 102 West 8th Street PO Box 395 Mio, Michigan, 48647