Monday, April 20, 2015

Fact Or Fiction: Real Estate Myths

1.  I can't put in an offer that would be under the asking price because the home just came on the market.
False - Go ahead and give them an offer.  Some people price their homes a little high expecting some negotiation to take place. So don't always assume what a seller may be thinking

2.  There are no photos, or not a lot of them, so the home must need work.
False-  Fact is some agents just haven't done a great job getting a lot of photos.  I've seen perfectly fine homes that just weren't marketed well.


3.  Per the contract, a seller is to clean their home after they move out for the buyer.
True-  But the sad part of this is that not only does it not always happen, but what is "clean" to one person, may not be to the next.  That, and if you move into a home that isn't clean, your only recourse may be to try and take the seller to small claims court.

4.  If I apply for a loan and can't qualify or qualify for what I was hoping to get, it goes on record and can affect me qualifying later on.
False-  Our financial situations can change often and quickly and the most important aspect to a loan officer is what you are bring in for income Now and what your work status is today.

5 . Realtors must receive some sort of financial benefit from recommending their loan person.
False-  We recommend certain ones because we are confident they can do a good job and we like to work with people we have confidence in. And when the loan turns out good, it reflects well on us too, being that we recommended them.

6.  The Realtor that is hosting the open house isn't always the listing agent for that home.
True- Sometimes we have multiple homes for sale at the same time and can't be hosting them if the open houses fall on the same day. So we ask our colleagues to help host them and they do it in hopes of meeting people who are in need of a realtor to work with (and it is a great way to meet your realtor)

7.  A real estate agent gets more money if they sell a property that is listed through someone in their office
False- Unless the agent that is listing the property is on a real estate "Team" with the agent that brings in the offer, there is no financial benefit for those real estate agents that is different from working with someone from a different company (and you can always ask if they are working together on a team if you're not sure)

8.  I got an offer right after my home hit the market.  I should hold out because that means more are coming and hopefully a better priced offer too.
False-  You will get the most interest on your home within the first couple of weeks that it is being advertised.  If you don't work with an offer you have in hand, you could loose out on a good deal.  And it's possible that there may be other offers coming but no one holds the magic ball to tell that so it would be a gamble you would have to be willing to make. (and it could turn out in your favor, but it could also be a mistake)

9.  I like the home that I saw but it's been on the market for a while now so I'm going to sit and watch it because they are bound to lower the price.
False- I've seen it happen time and time again that someone wants to wait before putting an offer in on the house and then another buyer submits an offer.  Never wait to put your offer in. You don't want to loose out on a home you like and it's best to avoid multiple offer situations if you can. 

10.  In a multiple offer situation, seller's will take 'all-cash' offers over the rest.
False-  First, sometimes people with 'all-cash' give lower offers because they think that using cash will get brownie points.  But also, don't assume what a seller may be thinking.  I've won multiple offers with clients that were using loans and up against all cash. There are too many scenarios that could factor into the seller's mind and equation of why they would choose one offer over another.

11.  I like a home that is in the area I want to be in, but it's on a busy street and that could affect the resale value.
True- There are a number of factors that could affect the resale value of a home and that is one of them.  But sometimes the area that we would like to purchase a home is a bit out of our price range so this may be a good option if you are okay with it.

12.  Amber Dolle is the hardest working agent I know.
True-  And this is a direct quote from a client that left a review on Yelp.  See here Yelp Review  And call me when you are ready to sell or buy your home!


                                                                         





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