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Five keys to success when buying a home in a sellers market

Wednesday, July 8th, 2015

There is no doubt that we are in a Real Estate sellers market. Many sellers are getting multiple offers for their home, so what can you do to ensure that your offer is the one that gets accepted?  Here are five tried and true ideas:

a)     Offer over asking price

  1.  Do your homework and offer to pay more than the asking price while making sure that you are not paying too much but enough to get the deal done. If you are unsure, find a seasoned Real Estate agent to help you through the process.

b)    Waiving inspection contingency

  1. The agent should be well versed in construction and inspection of homes. All the little details about how well or poorly a home is built. Is the foundation in good condition, how long will the roof last, etc.

c)     Waiving appraisal contingency

  1. Give a seller the comfort of knowing that even if their home does not appraise as high as what you are offering to pay, that you are still committed to buy the home. A good agent will help you navigate through this risky step.

d)    Shortening or lengthening closing date.

  1. Giving a seller the flexibility to close and move out when they want to. This can sometimes be the key to getting your offer to look better than even one that is higher.

e)     Financing the purchase. Conventional loans are preferred versus FHA or VA loans. Government loans have additional requirements and can complicate the process, as you get closer to finalizing the purchase and closing on the home.

If you have been looking to buy a home in today’s market, you may have seen your offer to pay the asking price or even higher not getting accepted. Don’t let this happen to you again; get help from a Real Estate agent that knows how to play the game in today’s environment.

For additional information please contact me, Sean Roque at sean@seanroque.com or call 913-706-3971.

Buying or building a new home? Hire a Buyer’s agent to represent you or be prepared to pay more for it.

Wednesday, January 14th, 2015

I can’t begin to tell you how many people I know that have told me how they wish they would have known about the perils of buying or building a “new construction” home, and how they wished they had thought of having a Real Estate agent represent them in the negotiations. They would have saved time, grief and thousands of dollars.

Do you go to court to fight charges filed against you without having an attorney to represent you? If you do, you will probably lose.

Do you have an insurance agent help you find the best health insurance policy and save you money? Of course!

Why then would you sign a contract to have your home built with an agent whose sole purpose is to get the best possible deal for the seller? Don’t kid yourself thinking that this very nice person (and they usually are very nice people) has your best interest at heart because they don’t; they work for the seller whom they represent in transactions totaling millions of dollars.

How costly can a mistake be when buying or building a home without a Buyer’s agent? Here a good example:

  • The allowance game – A builder gives you allowances for various items like lighting, flooring, etc. The light fixtures you saw in the model home look great, but will you be able to get these types of fixtures covered by the builder’s allowance? Probably not. A buyer’s agent will help you negotiate allowances to eliminate or minimize “out of pocket” expenses, which in some cases can be in the thousands.

Buying or building a new construction home is far more complex that buying an existing one, and you should always have a Real Estate buyer’s agent to represent you and look after you best interests; that is if you want to save time, trouble and money.

For additional information about buying or building a new construction home, please contact me at 913-706-3971 or e-mail sean@seanroque.com