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Columns : Let's Talk Real Estate - James Sarles Last Updated: Feb 6, 2017 - 2:32:04 PM


In Buying a Home Timing is Everything
By James Sarles
Mar 19, 2007 - 3:39:48 PM

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The rain has finally stopped, the sun is shining again and your real estate agent has just brought you an offer on your home, and you want to think about it.

You would like your agent to contact the other people who have shown an interest in your home. Whether your home has been listed for two days or two years, there is always a desire to hold out for more money, and sometimes sellers feel a lot of resistance to making a decision.

Some buyers will include a deadline for getting a response on their offer, but even if there isn’t a deadline, you should respond to a buyer’s offer quickly.

The period between the time an offer is submitted and a response made is a crucial one because the buyers are free to withdraw from the transaction.

Even though they are mentally landscaping your yard and arranging their things in your rooms, they may also be afraid that they will get the house and therefore are extremely vulnerable to buyer’s remorse which means that even though they love the house, they think they made a mistake.

Time is also an important factor when you are in the market to buy a home. You may find the perfect house and want to think about making an offer.

Even though you trust your real estate agent (hopefully), you are feeling some pressure just when you feel that you need time to consider the matter.

The agent tells you that another party is thinking about making an offer, so you shouldn’t waste time if you really want the house.

What should you do? The answer, if you are dealing with a reputable agent is Trust your agent!

It is natural to feel some pressure form even the most easy-going real estate agent and some uncertainty about making an offer. If you really like a house, there is always the possibility that some one else will share your same enthusiasm for it.

Sometimes, you can “sleep on it” and it won’t matter. Whether the market is good or sluggish, it is a good idea to assume that another offer is likely to come in, and move as quickly as possible to minimize the possibility of another buyer materializing.

Negotiating the sale or purchase of a home is a highly creative endeavor that can be stressful a times.

Even though the process is not usually a hostile one, there are issues which may require a compromise from each party, such as the price, the date of possession and the condition of the property at closing.

It helps to know why people are relocating. If a home is part of an estate, for example, it may evoke childhood memories and intense emotions for the person who is overseeing the sale.

It the sellers are in the middle of a divorce, their mood will be different than someone who has just won the lottery and is moving to their dream home.

Buyers who have been transferred and have to leave their dream home behind will feel differently from someone who feels that you home is their “ideal”.

One of a Realtor’s most important jobs is managing all of the relationships in the transaction. These situations don’t often get really difficult, but when they do, they should not be taken personally. Buyers and sellers are both susceptible to different forms of “Buyers’ Remorse” and “Sellers Remorse”.

Fortunately, neither one of these conditions is contagious to Realtors.

An important part of our job is to help sellers and buyers through their buying or selling jitters with understanding and humor.  Until next week.


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