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Buying in a Competitive Market Like Traverse City
You are thinking of buying a home, you shop online and there it is… the perfect home.  The listing says I just went on the market so you pick up the phone and call your friendly local real estate company to schedule a showing.  Your heart is pounding with excitement as the phone rings.  On the other end you hear, “This is REALTOR John, how can I help you?”
 
You excitedly tell John about the home you just saw last night and then he drops the bomb… “Sorry, but that home is under contract with another buyer”.  You think, “How can that be?  Is real estate really selling that fast?”
 
The simple answer is yes, in many cases homes are sold the same day they hit the market.  So how does this happen?   Savvy buyers that are working with local agents can often submit an offer sight unseen relying on the contingencies to get them out should they decide they don’t want the home after seeing it.
 
The standard Purchase Agreement used by most local Traverse Area REALTORS has an inspection provision in it that allows time (generally 7-21 days) for the Buyer to do any inspection they deem necessary (if any) and that includes visual inspection of the property.  In addition, ... more

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