4 Important Things Homeowners Should Avoid
Being a professional negotiator is not necessary to snatch your dream home. Sometimes what matters the most is what NOT to say and what should be avoided. One wrong comment or misstep on can put at risk your negotiation position. Putting yourself on the edge around real estate agents and listing agents is critical. Homeowners who can bring together the wants and needs can cost themselves big time. Here is a list of 4 important things homeowners should avoid using
- “I’m not sure if I’ll get pre-approved”
Homebuyers with an assuming attitude mindset before getting pre-approved can put themselves at a disadvantage from the beginning. A realtor and home sellers prefer firm buying individuals who are likely to make good on their purchase sales. The most common thing a seller and agent will want to see a copy of your pre-approval letter alongside your offer.
A pre-approved letter shows that the potential buyers have good enough credit, income, and assets necessary to stir confidence in a mortgage lender. A homebuyer without courage is a total wildcard. One thing people have to remember is that there are no guarantees when it comes to pre-approval and purchase offers, but the individual who looks like a better bet will often reap the rewards, especially if there are challenging offers.
- “I’m already pre-approved for this EXACT amount”
The pre-approval letter is a critical document. The information on it is extremely important too. Homebuyers can buy at ease when they know how much the lender is whiling to lend. But that amount isn’t a figure that sellers need to know. Usually, buyers will make a first offer below the list price. A good example is to put yourself in the seller’s shoes:
Imagine getting an offer at or below your $150,000 list price from a buyer who’s already been pre-approved for $250,000. In simple words, you are begging the seller to lower the price, a lot. Rather, submit a pre-approval letter that matches the amount of the offer, or refrain entirely from using a dollar amount. There are lenders that can make changes for specific properties and amounts up to your max. Lying to the seller and telling them you can pay more than you can afford is never a good idea.
- “This is my lovely forever home”
When shopping for your first home it is easy to fall in love. This is a common mistake but obsessing yourself on only one property is likely to hurt your chances of landing a good deal. It will hurt the buyer more than it will hurt the seller.
- “This is My Forever Home”
This is my sweet passion, and you very intend to spend the rest of your life in your new home. As we all know life has surprises for all of us and life, finances and circumstances change. Unfortunately, people lose their jobs and couples divorce. Only about a quarter of homebuyers in 2013 planned to stay in their home for over 15 years, according to the National Association of Realtors.
More than 4 out of 10 said they didn’t know their expected tenure. Regardless of your best intensions resale should be a consideration. A day may come when you have to put your Forever Home back on the market. Keep this in mind with unique properties or homes with uncommon features, which could become hurdles down the road.
