Sanity dictates you get the best possible deal when involved in a Real Estate transaction. No one wants to give away the farm. And no one wants to pay an arm and a leg for the farm!
The best possible contract terms that allow you to accomplish the goals that are of the most importance to you should be your focus when you transact real estate business. Every transaction takes on a life of its own because every party to that transaction has their own personal agenda. There is no “good” or “bad”. There are just the specific goals of the Buyers, the Sellers, and all the principles involved in each real estate transaction.
By hiring a professional you’ve made a first step in the right direction of assuring your goals and objectives are met. But that isn’t the only step you need to take. The second and equally important step is making sure the agent you hire to represent your interests, knows and understands what your interests are. It is never as simple as “sell my house” or “help me buy a house”. Nope. Bring your agent into your confidence and get them fully on board with your specific desires in completing a sale or purchase of a home.
For the Buyer, that will include avoiding overpaying:
* Know what your “best and highest” is if there are multiple bids on a property
* Heed the advice of the Realtor you hired; they want to help you succeed
* Be realistic about your needs/wants as relates to your housing budget
* Recognize your real budget as opposed to the one a mortgage broker used to pre-qualify you
This means that one of the best favors you can do yourself is to take the amount you qualified to spend each month and instantly deduct $2-$300. Every month that extra money can go toward paying down the mortgage, covering unexpected expenses or begin building a savings account for your future rainy day needs.
For those Selling a main concern will be avoid underpricing:
* Know the lowest possible price you can comfortably afford to walk away with. This may be lower than the appraised value given the home dependent on what your personal needs/wants will dictate
* Heed the advice of the Realtor you hired; pricing will be specific in the research they do, as opposed to generalized online sites, or even what the neighbors sold for
* Follow a few simple “get ready” ideas – de-clutter, clean, spruce up your curb appeal. It really is the truth that people make lower offers on homes with dirty dishes in the sink
* Take care of deferred maintenance items or repairs that may be needed. To you the cost may be $1-$500 to accomplish, but to a Buyer they will be valued at $1000- $5000 or more. Remove the issue before it becomes one
A seasoned, experienced professional guiding the transaction with a close eye on meeting your best interests is one of the finest investments in real estate you will ever make. You want an educated, personable Realtor on your side? Call me. I know my stuff. I know real estate. And I’d really like to get to know you!