As an experinced Real Estate professional I have seen many things come up that will ruin a deal.  I call them deal breakers.  Today I will focus on the Buyers.  As we all know buyers really hold the power in many cases to a deal being completed.  They have very little money into the deal, earnest money.  They are sometimes very picky and in today's market they are overloaded with information.  Here are some items to consider when working with buyers:
 
 
1.  Failed to Tell the Truth to the lender on initial loan application.  Delay of 1 week to end of contract?
 
2.  Failed to Tell the Truth to the Realtor.  Delay of a 1 week to deal breaker.  Work only with buyers as Buyer Agents and fully qualify for a loan.
 
3.  Down Payment Not Verified or Not Available.   Deal Breaker!!!
 
4.  Finds a Better Deal during the Inspection Period.  Deal Breaker!!!
 
5.  Job Changes or Layoffs before Closing.  Deal Breaker!!!
 
6.  Gets Spooked about an inspection objection.  Deal Breaker !!!
 
7.  Decides at the Last Minute they don't like the house, neighborhood, schools, don't want to pack.  Deal Breaker    
 
 
These are just a few of the highlights of issues that can happen.  Always insist on Buyers Agency, and sell your home with a Professional not FSBO.  If you are interested in buying a home in Colorado Springs or Selling a home in Colorado Springs, please contact me. 
 
 
Posted by Jay Carden on 02/05/2008 02:51 PM   Comments (2)   , ,  

2 Comments on Deal Breakers, Buyer Issues

The longer you practice Real Estate you will learn buyers are liars and sellers are yellers.

02/05/2008 03:18 PM by Gary McAdams (GMAC Schwartz Property Sales)

Makes me glad to be primarily a listing agent.  (and in Commercial !).  I don't mind the yelling....I'll take the listing side any day....even in this market  :-)

Seriously,  I guess it's all just personal preference.  I have a co-worker that prefers to work exclusively with buyers (thank goodness.... he get's all of mine).. In his case, he's not comfortabe with the listing "Game / Process" but instead has a high sense of loyalty to his clients which is conveyed by his ratios of deals that close and repeat customers.

 

02/05/2008 04:01 PM by Brian Luce (1st Patriot Realty)

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Real Estate Agent: Jay Carden (RE/MAX Properties, Inc.)
Jay Carden
Monument, CO
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RE/MAX Properties, Inc.

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