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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 the seller or seller's
agent. This can be an expensive mistake. If you are negotiating
directly with the seller or seller's agent, you may not be taking
advantage of the best deal available in the marketplace today! You
can have your own Realtor, who will use the experience gained
through hundreds of successful negotiations for your benefit - at
no charge to you!
Recognize different negotiating styles
and 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 part of the seller - or
worse yet - failed negotiations. If you have chosen your Realtor
wisely, the most effective strategies for this particular situation
will be revealed to you. Experience can mean a better deal at the
negotiating table with a minimum amount of hassle.
Have the home inspected by a competent
home inspection company.
Buying a home is a major purchase usually made after spending just
half an hour looking at the home. Isn't it worth ensuring you will
not be surprised later with deficiencies costing thousands? Your
Realtor can recommend a company to you and will ensure the
appropriate clause is part of the offer.
Knowing and understanding your rights
and obligations
It is important to understand completely the terms of the Contract
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. An experienced Realtor can
explain the agreement to you and help you to fulfill your
contractual obligations.
Don't let emotion blind reason.
Buying a home is an exciting time and while usually an emotional
decision, it's important that they 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 sound decisions.
Take the steps to be financially
pre-qualified, and have an interest rate guarantee before looking at
homes.
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 you 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. An experienced
Realtor can help you initiate this process and can also recommend
alternative sources of financing. Being aware of these mistakes will
help ensure you receive best value for your dollar when the time
comes to buy your home!
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