Detroit Real Estate

If you are buying Michigan homes under $40,000 whether it is just one or more than one. The key to getting the deal accepted easier is simple.

PAY CASH !!!

There are usually multiple offers on homes under $40,000 in this 2010 real estate market.  So if you are trying to buy a Michigan home under $40,000 and need a mortgage...... you most likely aren't going to win in a multiple bid situation.  The bank is going to take the "highest and best offer".  The highest and best offer is Cash.

So if you are going to need a mortgage and want to buy a Michigan house under $40,000 my recommendation is to talk to your parents, or grandparents.  If they can buy the house can and then you can do

1. a land contract
2. or buy it from them and get a mortgage on it

I had a young client that came to me after another agent got tired of running him around.  (There isn't a lot of money is selling $40,000 homes)  They had put in a couple of offers and lost out on them.  I took him around and put in two offers on homes.  We lost both of them to cash offers.  So he lost 4 bids to cash offers.  Finally I sat him down and asked him if there was anybody in his family that could help him buy it cash.  He grandfather volunteered to help him buy it.  We put in an offer and won the house.  We were a cash bid!  We won on the fifth home he had bid on.  But only because we were cash.  If we were still trying to buy a Michigan home under $40,000 with a mortgage offer..... well we would still be looking.

Search Michigan foreclosures and homes under $40,000 get the latest listings emailed to you so you don't miss out!

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My quote of the day:

"The truth is that our finest moments are most likely to occur when we are feeling deeply uncomfortable, unhappy, or unfulfilled.  For it is only in such moments, propelled by our discomfort, that we are likely to step out of our ruts and start searching for different ways or truer answers."