Buyers: I know you want a second opinion but do it the right way

I was reading this blog http://activerain.com/blogsview/29858/Sigmund-Freud-What-does and the comment about buyers bringing a third party into a deal convinced me to write this blog.

I recently had an experience with this situation and realized that most buyers are not aware of how difficult it is to bring in a third party especially after weeks of showing properties.  Here is a typical scenario:

Buyers are out with their realtor and see 19 properties over a period of two weeks.  The buyers and realtor are at property number 20 and the buyers love it.  It is the first home that they are excited about, it fits all of their criteria and even has a few perks they werent expecting.  They say they want to put an offer in BUT and it is a big one...they would like to have their aunt, mom, brother in law, whomever come see the property first.  This happens VERY frequently with first time buyers.  They do not trust their own instincts and feel that they need guidance from a parent or friend.  It is a big deal.  Purchasing a home is the biggest purchase most of us will make in lifetime.

So you schedule a second showing and all the family shows up to view the home.  The third party most often begins to start picking out everything wrong with the home.  They question if the home is worth the asking price.  They comment on how expensive it is to do certain repairs (usually way over estimating).  They start suggesting offering 30, 40, 50K under asking because that is what they did when they bought their house(in 1985).  And I am not saying they are doing it on purpose, it is that they are coming in at the end of the party.  How can they offer anything constructive?  It is actually unfair to expect them to do so.

What they and the buyer often dont realize is that these folks didnt see the other 19 properties.  They may not be aware of what is going on in the current market.  They did not see the condition and pricing of the other homes.  They do not realize that this price range/style/town is what the buyer can afford.  They weren't around when the buyer and the realtor discussed that the buyer was willing to make cosmetic repairs.

So as a buyer if you would like the opinion of someone have them come along with you on multiple viewings, do not bring them in at then end, they do not have the perspective that you and your realtor have.  If their advice is critical to you and will affect your decison to buy or not buy they should be involved in the process from the beginning.  It is much easier to make a decison when everyone is on the same page.