Valentines Day and phrases associated with it reminds me to tell my clients what not to say when interacting with a home seller or a real estate agent that represents the seller at home showings. I love it. Its perfect for us (me). We (I) just fell in love with the house. I (we) just found my next home. Its our dream home. Weve loved it for years. We love it. We want it. Its the perfect house for us (me). We love this house. Dearly. Here are some tips to help you save some money once you find the perfect home. -Instruct your agent to keep you away from listing agents or sellers when youre viewing a home. As much as the listing agent or homeowner wants to follow you around to sell you the home, ask your agent (yes you should have your own) to tell the listing agent or owner that after a quick verbal overview of the property features you would like to see the property at your own pace, unaccompanied by them. This way if the love starts flowing they wont know it, unless youre screaming with glee. -Adopt a poker face. From the minute you meet real estate agents or sellers, be approachable but not overly engaging. Real estate sales persons first thought is to try to qualify you as a buyer. Resist extensive conversations by extracting yourself with were on a tight property tour timeline today, its our first day out, or some features work for us, but it isnt 100%. -Dont stay too long. The longer you stay, the more likely the listing agent will find out way too much information about your feelings toward the home, and that will not serve you later, if and when you enter into negotiations. Even if you are in love, on the average dont stay longer than half-an-hour. Book a second showing if you need more time. Moderate picture taking. If you need to take some photos, do, but limit to overview photos and not every detail such as the insides of kitchen cabinets. Pick up the listing sheet and some additional information, but when offered every mortgage rate sheet, listing agent card, refrigerator magnet, decline the offer. Youre trying to save some trees and not appear in love. -Delay feedback. Before you leave the home the selling agent or homeowner will ask what you think of the home. No commitment answers please. A quick thank-you for showing us the (your) home, we need to think about it, weve seen so many today, but we need to assess which will work the best for us, or it has features we like, but its stretching our home search parameters. -Ask factual questions, which can you, can independently verify answers. If you get stuck being questioned by an agent or seller, take charge of the conversation and ask basic questions that you can verify independently later. This is a good lie detector test, so if you start communicating later on a contract, youll know whos who. Ask what are the most recent taxes, any planned special assessments by the homeowners association, annual, quarterly or monthly assessment amount, how long have you (or the sellers) lived in the home. Use the listing sheet to verify answers. You havent tipped your hand, but if you are in love, heres some next step tips. -Sleep on it. Unless youre in an over-heated sellers market (beware of top-of-market-prices) take some time alone and weigh the pluses and minus. Dont react or be impulsive. Youll feel more confident if its the right thing to do over time. -Take a second or third look. Youll discover your love level on the second or third tour of a home, or if its not exactly what you want. If you go back more than three times, you might start to alienate the listing agent or seller and they might not think your decisive enough to go to the closing table. -Review closed sold comparables from the last six months. Compile data from recently sold homes that are similar to the one you are interested in will let you know if yours is over or under-priced or fair market value. These comparables will help you strategize your negotiations. -Dont waive contingencies. Just because you want it, dont give up your legal rights in a contract. Dont let your agent or love convince you to strike attorney, home inspection or mortgage contingencies. Have an attorney review all real estate contracts. The sellers and their real estate agent will know you want the house when theyre presented with a real estate contract. Its a sure sign of love in realty circles. |
