Congratulations Ed Silva! Fully completing the March to a Solution|ActiveRain 2023 Challenge has earned you the right to receive a "Virtual Handful of Gold!"
Some real estate agents sell quickly and they advertise how fast they are by marketing how great and good they are. That may be true, but it really all depends. Buying a home is the most expensive purchase most buyers will ever purchase. However, experienced agents, like Ed Silva make a difference. Reading what Ed wrote, he takes extraordinary measures to listen to clients to achieve their goal to help them obtain what they perceive is something of value.
During a Seller's Market, it is very challenging when there is strong competition from competing buyers locally and out of state, low inventory, a strong offer price to the seller, and the right location to obtain an acceptable offer.
What often gets in the way, regardless of whether or not it is a Seller's Market or a Buyer's Market is: 1) Hearsay. 2) "Buying furniture prematurely." 3) Getting "too emotionally involved."
Being anxious can often get people into trouble. It is only natural to get excited when a Lender tells you how much you can afford and hands over a pre-approval letter. Choosing the right Lender is just as important as choosing the right Real Estate Agent than most people think. But even when a buyer does hire the right person, it is only human to lose focus on the end result, gets lost and confused during the process, and/or distracted by what others say or do that can cause everything to go kaput!
Things Can Go Wrong
Hearsay is a big problem. A buyer hears something from someone who offers unsolicited advice planting seeds of doubt. Or choosing the wrong lender because, as buyers, "they are cautioned to not use anyone offered by their agent as they were just interested in helping the agents' friends."
Putting the horse before the cart is a big no, no! Advertising techniques lure buyers into deals too good to be true. When a buyer is interested in furniture, and wants to go back to the house they are interesting in buying to take measurements, is okay, if it is written in the contract. Most agents agree, taking measurements before you buy is a great idea! However, buying furniture before closing, and owning the house jeopardizes the buyer's ability to close. When a buyer is told by their Lender, their "credit score dropped," and their final clear to close did not happen it makes you sick.
Sometimes, there could be a delay in the closing until things get fixed. As Ed implied, in one of his entries, if a buyer listens to their Lender and their Real Estate Agent, sometimes the deal can be saved. But it really all depends. Having a formidable TEAM in your corner to consult with before you make mistakes is priceless and wise.
Getting too emotionally involved creates anxiety. When the wrong mistakes are made there are consequences. "Sleeping in the car," when you couldn't get the financing may not be the best solution. Believing what someone outside of the real estate transaction tells you, causes interference and confusion. Agents build a TEAM of more than one home inspector, and lenders. Steering is not permitted.
Connecticut is a State that attorneys are almost always involved in real estate transactions. Ed Silva is a Team Player and over his many years in the business, has learned how "to find other professionals in necessary businesses" to make it happen. Having a smooth transaction that flow consistently to the end result is a smart way to go.
Kathleen Daniels, Probate & Trust Specialist and I are appreciative that Ed Silva shared how he does business in the State of Connecticut, and via his three entries for the challenge, described important lessons he learned.
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