Pat Starnes' Snippets: March 2014

Losing YOUR New Home to another Buyer

Some buyers think negotiating means making the lowest offer they can to get the "best" sales price. Sometimes it means making the BEST offer to get the home you really want! Always consult your real estate expert and consider their advice. Read on to see how making a "low-ball" offer could backfire.

Real estate professionals accept as fact of life that there will be a certain number of homebuyers, who will lose the house they've found, and would love to buy. There are several reasons this can happen.

Since homebuyers do not generally pay commission on homes, it is important to understand that buying a home without professional real estate representation is not only unnecessary - in today's world, it can be risky.  

(1) Desirable homes, which are priced well in a brisk real estate market, often command a great deal of interest from homebuyers. If a buyer lingers in making a decision and doesn't act quickly, someone else can buy the house.  It is especially true if the home is in a good neighborhood.

(2) Low-balling an offer for a house already priced well, and receiving loads of buyer interest, will usually have the buyer losing the house, because they were outbid by someone else.  Serious homebuyers should aspire to make the most attractive offer they can.   

(3) Getting prequalified and preapproved by a lender is paramount. Buyers failing this important step in the home buying process, often miss out on the best deal.  It isimportant that prospective homebuyers determine how large a mortgage they can qualify for, and consider different types of mortgages available. 

(4) Consider the resale value of the house before purchasing. There are certain features that can hinder a property in marketing - That 1 car garage for example; or 1 bath home. Cosmetic issues with a house - like that peach colored shag carpeting and 1970s wallpaper, can easily be remedied. But it is costly to overcome the need of an additional bathroom, or that small garage.

(5) Likely the most important thing some homebuyers fail to do, is find the best real estate professional, willing to work with them through the home-buying experience and process.

An experienced real estate professional, will educate about the home-buying process, and acquaint with important issues which require consideration and understanding, so successful acquisition of a first home comes with few road blocks and is a more joyful experience.

 

Written and Published by Pat Starnes REALTOR

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Pat specializes in Residential and New Home Sales 

Primary Service Area:

Brandon, Pearl, Ridgeland, Flowood and the Ross Barnett Reservoir area

 Pat Starnes, Broker Associate

Front Gate Real Estate, 6700 Old Canton Rd., Suite C

Ridgeland, MS 39157

601-278-4513 - Cell

 

Recent Blog Posts by Pat Starnes:

 

Rankin County Requires Utility Permit and Inspection When House Sells

What Does The ABR Designation Stand For?

We Want More, We Want More, Right?

Hot Temperatures and Hot Home Prices in Brandon MS 39047

Should You Consult a Realtor When Buying New Construction?

Homes for Sale in Scottish Hills ~ Brandon MS 39047

Homes for Sale in Hidden Hills Subdivision, Brandon, MS 39047

Homes for Sale in Castlewoods Subdivision, Brandon, MS 39047

Gardens of Manship Neighborhood Information - Brandon, MS 39047

 

Are you looking to buy or sell a home in the Brandon MS market? Call me!

Comment balloon 3 commentsPat Starnes, Brandon, MS • March 19 2014 06:28AM
Losing YOUR New Home to another Buyer
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Some buyers think negotiating means making the lowest offer they can to get the "best" sales price. Sometimes it means making the BEST offer to get the home you really want! Always consult your real estate expert and consider their advice… more
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Greg knows how to grab your attention, right? Whenever I find worthwhile tips written by a fellow Realtor, I like to pass it on to my Brandon, MS buyers and sellers. Although Brandon's real estate market may not be as strong as it is in Houston,… more