Love is Blind.... I really enjoy working with clients who are in love with the home they are buying! But be careful...like in real life, falling too hard too fast can lead to heart-break. Love-sick buyers spend their inspection day measuring for carpets and drapes. They only call me back when I'm calling them for the 'fun' stuff, like bringing the parents through. Buyers who love a home too much usually pay too much come mortgage time.
Here's some advice. Keep your buyers focused by insisting that they 'participate' in their building inspection, not just show up. They need to shadow their inspector and come with prepared questions and concerns. The buyers need to perform all of the standard inspections, this is not the time to waive the radon or well water test. When the building inspection report is produced, go over it carefully with them, or I guarantee they won't bother reading it at all.
Provide them with referrals of reputable mortgage providers, preferably someone you work with. Make sure they take the time to sit with the mortgage broker and fully understand the costs associated with the purchase both initially, monthly and for the long term.
What happens to a buyer when the home they buy no longer seems so 'lovable'? They call you, looking for a divorce. The most prepared buyers are less likely to call you in a panic looking to get out of the deal last minute. They are less likely to end up with financing conditions they cannot manage.
No love will be lost when you provide solid professional guidance along every step of the way, in fact you will probably end up with buyers who love you as much as their new home...
By Megan O'Connell Albright on September 21, 2010
The Kasey Group Sells...