Lessons Learned

Early this morning, I couldn't sleep.  Turning on the TV, I found HGTV and started watching a show about lessons learned in buying a first home. 

One thing that was nice about the show was that the point was to find problems about the purchase, but it seemed like everyone on the show really was overall very happy with their place. 

The items were frustrating though.  As a Realtor, I consider it my job to make sure that many of the occurences don't happen during a transaction.  Some of the items pertained to the decisions of buyers, but as a profesisonal Realtor, its always important to inquire and try to help in derailing these potential problems.

There were several bios on home buyers and the lesson they learned.  The items below are things learned:

1. Read the condo / neighborhood assoiation by-laws.  (in the show, the client didn't get the by-laws until a few days before closing.  WHAT!?!?!)

2. Keep negotiation, including inspection items (the buyer's inspector didn't let them know that the "new roof" was actually a second layer of roofing.  The inspector didn't get on top of the roof!)

3.  Get pre-approved prior to looking (DUH!)

4.  Abandon offering strategies that don't work (the buyer's came in low on a few offers and didn't get anything under contract quick enough).

5.  Make sure updates have been done by a professional. (the inspector focused his inspection on structural mechanical without reviewing the quality of workmanship of the remodeling work AAAARGH!!!).

Overall, the items that came up all seemed preventable.  If any buyer's had the same experience with inspectors in a transaction I was involeved with, that inspector wouldn't need to worry about working with my clients again.  How Crazy!!  An inspector not getting on the roof or only looking at structural elements is just NUTS!  I would think the Realtor would have pointed those things out too?  After all, we are 'real estate experts,' aren't we?

The show was disturbing.  Almost an indictment of the level of professionalism of those helping the buyers.  That is why buyer's should do what they can to get a QUALITY REALTOR to ensure that the entire transaction can have the influence of the most competent professionals in all fields, inspections, title work, lending and Realtors.