Smart Home Buying

By Larry Schottenstein on September 13, 2011

Some home buyer’s can’t resist shotting themselves in the foot when buying a home. Part of my job as an agent is to tell my buyers what they need to hear and not want they want to hear. I see a lot of situations where buyers miss out on great opportunities because they are too picky or discount problems way to much. Here is an interesting story that highlights the issue.

There was a short sale listed at $195,000 that needed some but not a lot of work. It didn’t sell and we purchased it at sheriff sale for a lot less then $195,000, did around $8,000 of work and then sold it for $230,000. Buyer’s didn’t recognize a good deal at $195,000 and were inflating the amount of work that was needed. The work was manageable and buyers were now willing to pay top dollar for the same property improved.

When buying a home don’t dig in your heels and make emotional decisions. Learn to work with your agent so they can talk you thru the choices and recognize a good deal when you see it.