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“I Don’t Need a Real Estate Agent” and Other Silly Things Buyers
Say
Tips for Home Buyers
By
John Cilladi, REALTOR®
The truth is, not having an agent when you buy a home will probably cost you money. There are some small fees that you will pay even if you don’t have an agent, but you won’t pay any more than that if you DO have an agent. In most all real estate transactions, the agents on both sides are paid by the seller.
#2 “Let’s
just drive around and see what’s for sale”
That was OK back when gas was 32 cents a gallon, but can be quite costly and waste days and weeks of your time. Even searching the web on your own can be futile in a rapidly changing real estate market.
#3 “We’re buying a new home so we don’t need an agent.”
Many people realize too late that they should have contacted an agent BEFORE looking at a home in a new development. Often it’s too late to have an agent help you AFTER you have visited the model home and signed in. (Yep, that’s how it works! If you visit without an agent, your agent may not be able to collect a commission from the builder/developer.)
#4 “I watch
a lot of TV, so I don’t need a home inspection.”
So you can imitate Norm and Tom! Wonderful! Enter a talent contest. But make sure you hire an experienced home inspector. He or she will help you find defects and damage BEFORE you buy.
#5 “I want to make a low offer so the seller will come down to my price.”
“Low-balling” isn’t always wise. Put yourself in the seller’s shoes. A low offer can be insulting and degrading. A seller who is offended probably won’t even respond to a low offer.
#6 I have to have THAT house!
Settle down now! Let’s not get emotional. It is true that each home is unique and THAT house is perfect for you, but having to have THAT house is going to cost you. Take a deep breath and let your brain take control over your heart.
#7 Oh, we can
worry about financing AFTER we find a place to buy.
Wrong, wrong, wrong! Finding financing is the FIRST step, not the last. You have to be approved for financing before you look at your first house – how else could you know what you can afford? VA, FHA, Fanney Mae – they can be your friends. A good mortgage officer can introduce you to them.