Todays housing market cannot be described better than as a buyers market. The prices for most real estate are low, and buyers have an incredible range of options from which to choose. However, while it certainly is a buyers market, you need to beware of several things that could kill your deal. If you want to ensure that you get the best price for a home, then it is vital that you avoid making the following mistakes.
Below, you will find some of the most serious mistakes made by todays home buyers. Avoiding these is vital to getting the home that you want, at the price that you want to pay.
1.Negative Comments about the Home: If you think that being negative about a particular home is going to help you get a better price, think again. If you tell any seller that their home is not worth the asking price, you can bet that they wont sell to you for any price. Sellers hold most of the power in this equation, and negative comments will not help you secure a better deal.
2.No Resources: If you havent taken the time to get loan preapproval, then you are in for a world of trouble. Quite a few sellers wont even take the time to show you a home if you dont have the financial backing to make a purchase. A wise buyer goes into the market with the knowledge of what they can buy, and preapproval from a lender for a home loan.
3.Lowball Offers: Another mistake that new home buyers make is to low ball the seller, thinking that it will help to secure a better deal. This does nothing but insult the seller. Make a serious offer for any home that you are considering. If you offer a very low amount, chances are that the seller might not even bother haggling with you, but will close negotiations.
4.Renegotiating After a Deal: If you make an offer and then decide that you want to renegotiate halfway through the deal, youll face some serious problems. Nothing will anger a seller faster than you deciding to change your mind after a deals been struck. Once you have made an offer and the process is started, stick with whats on the table.
5.Misleading Offers: Some buyers think that making a high offer and then lowering it after a lackluster appraisal is the best way to get a good deal on a home. However, this does nothing but anger the seller. In fact, the seller might just pull out of the deal completely, leaving you high and dry with no home.
These mistakes can cost you your dream home. If you are contemplating any of these actions, rethink your stance or you might find yourself with nothing. Show the seller the same courtesy and respect that you would want for yourself throughout the buying process.
