Buckle Your Seatbelts and Hold On!

As a buyer, you need to try to be ready for  anything in  today’s market.    As a Realtor, who has experience with traditional sales, short sales and foreclosures, I can  honestly  say that having an agent that can  negotiate on your behalf and is current in what is going on in the market is crucial.   In  this ever-changing market,  no one knows everything,  but you do need someone on your side, who can  work hard to answer all  of your questions and  have the ability to calmly and professionally handle all of the unexpected  problems that might arise.      

Having an agent that is willing to take the time that is needed to work for you is so important.   Let me share an example with you.

When  writing an offer and submitting  it to the listing agent of a foreclosure,  EXPECT a counter from the bank, unless your offer is listing price or above what the bank is asking for the property.    I have  heard COUNTLESS stories of buyers being counseled to not even bother with doing a counter.    Every time I hear this I am shocked.   This is a tough market.   You need someone on your side who knows what to do and instead of getting angry.   Now I am not talking about the buyer getting angry and giving up.   I am talking about the buyer’s agent!

The bank who owns the home, has  NO emotional attachment to the home you want to buy.   Their goal is to get the best price for their property, but in the end they dowant to sell it.   Banks have professionals on their side educating them on what their properties value is.   Banks are not in the business  of giving away homes.  

One of the best pieces of advice I give my clients when putting in a counter is: Know what you want to spend on the property you want to buy and educate yourself on what other similar properties are going for in the area.

As a buyer, if you really want that house, DON’T GIVE UP!  The best time to negotiate with banks is BEFORE they start to get multiple offers on their property.   This keeps you, the buyer from getting caught up in a bidding war.  

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