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8
Big Time Mistakes
That
cost you money when buying your home.
#1
Failing to use the services of an experienced
REALTOR . Many times buyers avoid using
the services of a Realtor under the mistaken
belief that it costs them money - or that
they will be able to negotiate a better deal
directly with the seller or seller's agent.
This can be an expensive mistake.
If you are negotiating directly
with the seller or seller's agent, you may
not be taking advantage of the best deal available
in the marketplace today! You can have your
own Central Florida Realtor, like Angela Chapman
and John Hambrick, who are committed
to using the experience gained through hundreds
of successful negotiations for your benefit
- at no charge to you! Your agent can be paid
from the same commission that the seller's
agent is paid from - by the seller.
Real Estate is a unique business,
where an agent with one day's experience and
no sales gets paid the same as an agent with
several years experience and hundreds of successful
sales. An experienced agent can help you avoid
the other costly mistakes outlined here, and
make your home buying experience an enjoyable,
stress-free one!
#2
Not knowing who the agent is really working
for. It is important for buyers to know and
understand for whom the agent helping with
the house hunting is actually working. The
agent may be working as a sub agent - representing
the seller's best interests during negotiations
- or as your agent representing your best
interests during negotiations. If you are
not sure who your agent is working for - ask
for clarification. Your Realtor must fully
explain agency. When negotiations commence,
wouldn't you want to know whether information
you divulge will be used for the seller's
benefit - or yours?
#3 Failing
to have a Comparative Market Analysis prepared
before offering. Before you make an offer
to purchase that special home, you must have
a good idea what the market value is to ensure
you do not overpay. Angela and John can
prepare a Comparative Market Analysis showing
what similar homes have recently sold for,
and the difference between the asking and
selling prices. This is the same type
of report the seller receives when deliberating
on an asking price. Wouldn't you like
to have access to the same information as
the seller?
#4
Failing to recognize different negotiating
styles and strategies. Many buyers think that
the way to achieve a fair purchase price is
by offering low. This is the strategy of the
buyer who is not in possession of all the
facts essential to negotiating the best possible
deal. Many times that type of strategy will
polarize negotiations and lead to inflexibility
on part of the seller - or worse yet - failed
negotiations!
If you have chosen your Central
Florida Realtor wisely, the most effective
strategies for this particular situation will
be revealed to you. Remember, in the real
estate business, an agent with many sales
usually costs the same as someone who is inexperienced.
That experience could mean a better deal at
the negotiating table with a minimum amount
of hassles.
#5
Failing to have the home inspected by a competent
home inspection company. Buying a home is
a major purchase usually made after spending
just half an hour looking at the home. Isn't
it worth ensuring you will not be surprised
later with deficiencies costing thousands?
John and Angela can recommend several reputable
companies for you to choose from, and will
ensure the appropriate clause is inserted
in the offer.
#6
Not knowing and understanding your rights
and obligations set out in the Offer To Purchase.
It is important to understand completely the
terms of the Offer to Purchase. Wrong assumptions,
poorly written or missing clauses, and not
understanding how the clauses affect the purchase,
can lead to increased costs or a voided contract.
John and Angela can thoroughly explain the
agreement to you and help you to fulfill your
contractual obligations.
#7
Letting emotion blind reason. Buying a home
is an exciting time and is usually an emotional
decision. It is important that those emotions
be validated by facts and reason. The
HomeJoy Team will help to remove the
emotion from the negotiating process and provide
you with the information you need to make
the right decisions.
#8
Failing to take the steps to be financially
pre-qualified, and having an interest rate
guarantee before looking at homes. Knowing
how much you can comfortably afford will ensure
you are looking in the right price range and
prevent you from buying a home that will strain
you financially and emotionally. Having an
interest rate guarantee will protect you in
times of fluctuating rates and ensure that
your initial projected payments do not suddenly
escalate, resulting in extra interest charges.
Experienced Realtors like John Hambrick and
Angela Chapman can help you initiate this
process and can also recommend alternative
sources of financing.
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