3 Deal Killers… Beware!!!

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Categories: Buyers, opinion Posted on March 27th, 2009

If you are actively looking to purchase a home, it is important to be aware of deal killers…

Every contract has a killer. Most can be handled by an experienced agent and level minded people. However, there are some things that cannot be prevented unless the most perfect circumstances prevail. Of these, it is important to be aware.

Here Are Three Deal Killers In Our Market

A home that is priced seemingly well but will not appraise due to the lack of other sales in the community besides foreclosures and short sales. YIKES! For example… I had a buyer willing to write on 3 different homes. However, after viewing comparable sales in the neighborhood the homes could not support the value that before appeared to be good… Especially considering condition and it having no banks involved.
MOLD… ROT… AND WATER DAMAGE. The potential of the home and your dad’s handy skills mean nothing if you are working with an FHA appraiser who will not give you a loan based on a homes current condition.
Market Misunderstanding. This is the biggest killer of them all. Your motivation means little if the seller thinks it is 2006 and that they will get a better offer. You are wasting your time if you think the banks are desperate and are simply hungry for anyone with a pulse and a credit score. This market is changing every month. If you are not up-to-date (or if your agent is not up-to-date, and many are not) then you will be spinning your wills for some time.

Loudoun Sights And Sounds… Loudoun One/ World Trade Center

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This entry was posted on Friday, March 27th, 2009 at 10:55 AM and is filed under Buyers, opinion. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Joanna Woolley said at March 31st, 2009 at 12:04 PM
Great website, I really enjoyed this article – keep up the great work!
How Quickly Is Loudoun Selling? said at April 22nd, 2009 at 7:26 AM
[...] 3 Deal Killers… Beware!!! [...]
Los Angeles Lawyer said at April 30th, 2009 at 9:23 AM
The #1 sales killer is tough because there is nothing the seller can really do to change the market of the houses selling around them. as for #2, perhaps the seller could do a pre inspection of their own… and either put in a legal document ‘as is’ for items that are too big to fix or reduce the cost of the house accordingly.