Failing To Use The Services
Of An Experienced Realtor:
Many
times Buyers avoid using the services of a Realtor under the
mistaken belief that
it costs them money - or that they will be able
to negotiate a
better deal directly with t he seller
or the sellers agent.
You may not be taking advantage of the best deal available
in the marketplace today
!! You can have your own
Realtor, a Buyer
Broker or Purchaser's Agent who is committed to using
the experience
gained through hundreds of successful negotiations for
your benefit -
at no cost to you !! Your Agent can be paid from the
same commission the Seller's
Agent is paid from - by the Seller.
Not Knowing Who The Agent
Is Really Working For
It is
important for Buyers to know and understand
for whom the agent
helping with the house hunting is
actually working. The Agent
may be working as a sub agent (representing the
Seller's best
interests during negotiations) or as your Agent, representing
your best interests.
If you are not sure who the agent
is working for
- demand clarification. Your Realtor must fully
explain agency. When
negotiations commence wouldn't you want to know
whether information
you divulge will be used for the seller's benefit .........
- or yours ?
Failing To Have True
Market / Value Information
Before
you make an Offer to purchase that special home, you
must have
a good idea what the market value is to
ensure you do not overpay.
This is the same information the Sellers
receive when deciding
on an asking price. Wouldn't it make
sense for you to
have access to the same
information ?
Failing To Recognize Different
Negotiating Strategies
Many
Buyers think the way to achieve
a fair purchase price is by
offering low. This is the strategy of
the Buyer who is not in
possession of all the
facts essential to negotiating the best possible deal.
Many times that type of strategy
will polarize negotiations and
lead to inflexibility on the part of the
Seller - or worse yet - failure
to be able to purchase a home you could otherwise afford.
Not Knowing
Your Rights / Obligation In The Offer
It is
important to understand completely the terms
of the Offer to Purchase.
Wrong assumptions, poorly written or missing
clauses and
not understanding how the clauses affect the purchase can lead
to increased costs or
a void contract.
Letting Emotion Blind Reason
Buying
a home is an exciting
time and usually an emotional
decision. It is
important that those emotions be validated by
facts and
reason. An experienced Agent will help remove
the emotion from
the negotiating process and provide you with the information
you need to make the
right decisions.
Failing To Take The Correct
Financial Steps
Being
Pre Qualified and having an interest rate guarantee
before looking
for a home is very important. Knowing
how much you can
comfortably afford will ensure you
are looking in the right price
range and prevent you from buying a
home that will strain your
financially and emotionally. Having an interest rate
guarantee will
protect you in times of fluctuating rates
and ensure that your initial
projected payments do not suddenly escalate,
resulting in extra
interest charges.
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Other
References
As per statistics about ten percent of all properties
sold in US are through owner
financing. The main reason is that it is much easier for both
the buyer and seller and requires less documentation in comparison
to conventional mortgages. You can browse through the article provided
at Mortgagefit.com to know
all the details about owner financing and its comparative
advantages for buyer and sellers.
