another. Stay alert to comparable sales (comps) in the area. If they sell for below listing price, it is a buyers’ market. If they sell above listing price, it is a seller’s market. This information can be important when making offers, allowing you to calibrate your proposal to better suit the market and — if you’re lucky — your budget.
NOT BEING REPRESENTED BY AN A ENTED BY AN AGENT
You can browse without an agent, but once you are considering seriously looking at a house, engage a real estate agent. Do not rely on the seller’s agent to represent you. In fact, it would be fair to say you should never walk into an open house without having an agent. The listing agent is the seller’s representative, is paid a commission on the sale price, and has the seller’s interests in mind. A buyer’s agent, on the other hand, is paid from a commission that is split with the seller’s agent. All-in-all, it’s pointlessly risky to negotiate conditions and sale price without proper professional representation on your side.
NOT CONDUCTING A PROFESSIONAL HOME INSPECTION
It can be a costly mistake to rely on the seller to inform you about house problems. Prior to closing on the sale, you need to know the property’s specific condition. Any sales agreement must be conditional on the satisfactory results of a complete and comprehensive home inspection by a reputable and qualified home inspector. This will disclose structural and systems issues or weaknesses that can run the gamut from plumbing, gas, and electrical problems to full-blown structural integrity problems in roofing, walls, or foundation.
COMPROMISING ON YOUR NEEDS UR NEEDS
While compromises in meeting your dream-home desires are
32
Powered by FlippingBook