Grand Rapids Real Estate Resource - Don Phelan, RE/MAX of Grand Rapids, Inc.
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Whether you´re a first-time home buyer or a seasoned veteran, navigating the ever-changing waters of the real estate market and real estate regulations can get pretty tricky. Unless you´re working with real estate contracts every day and keeping abreast of changes in environmental restrictions, fair housing law, state and federal disclosure requirements, there´s a good chance you might miss something that could wind up costing you money. Here´s a case in point: A man called me out of the blue one day. He said his buddy, a former client of mine, had given him my name with his recommendation. He went on to explain that he really didn´t need the help of a Realtor ? he had found the perfect house while he was out driving the other day and just wanted to know where to get a purchase agreement form to write up an offer with the "For Sale by Owner" seller. After I told him that standard forms can usually be found at any office-supply store, I asked him where he found a home. Excitedly, he explained, "It´s just perfect. Nobody behind me, just a wide-open field for about a mile!" I thought it was a little odd since the area he described had almost no wide-open spaces left (and those few that were left were extremely pricey.) "Just curious," I poked in my nose, "what street is it on?" "It´s right at the end of the cul-de-sac on (Fake Name) Street," he replied. I recognized the area immediately and said, "How do you feel about having a major highway interchange in your back yard two years from now?" Dead silence. Long, long dead silence. Finally, "Huh?" "Check with MDOT (Michigan Department of Transportation)," I suggested, "that´s where the new highway is going through and that big, wide field is where the highway interchange will be built." "Oh." More silence, then finally, "Uh, maybe I do need your help after all." There was a time I changed my own oil, did my own tune-ups. Then cars got pretty complicated and I knew I needed to put my car in the hands of a pro. It´s no different with real estate. |