Yes, there are plenty of reasons to be fearful in a real estate transaction.
- As a Buyer, you could pay too much
- As a Seller, you could take too little
- As a Buyer, you could buy “the Money Trap”, unaware of defects
- As a Seller, the home inspector could kill the sale with frivolous repairs
- As a Buyer, the lender could take advantage of you and charge too many fees
- As a Seller, the lender deny the mortgage and you lose the Buyer
I am not trying to scare you, but… these problems do come up frequently. So how can you avoid those problems and the very long list of issues that I haven’t even mentioned?
- Never list your home with the friend or family member that just got in the business and needs the business.
- Never list your property with the real estate agent that offers you the highest price
- Never list your property with the real estate agent who offers you the lowest commission.
- Never list your property AS-IS unless you can’t afford to make any repairs and the price is justifiably below market.
- Never buy a house from an agent who you have not discussed your needs and wants before becoming YOUR agent.
- Never buy a house from an agent you are not comfortable with.
- Never buy a house you feel you can’t afford.
- Never buy a house you don’t like just because interest rates are going up.
So, in order not to be Frightened by Real Estate, always choose an agent that you can trust, that has experience and know-how AND your best interest at heart. Yes, that is possible! Not every sales agent is just after the “deal”, and if you are working with one, dump him or her quick and call me. I’ll make you my number one priority.
By Priscilla McDonald, Assoc. Broker