Talk of The Villages Florida - View Single Post - If I had it to do all over again...
View Single Post
 
Old 01-03-2010, 09:20 AM
l2ridehd's Avatar
l2ridehd l2ridehd is offline
Sage
Join Date: Dec 2007
Location: Bridgeport At Miona Shores
Posts: 3,603
Thanks: 1
Thanked 353 Times in 122 Posts
Send a message via AIM to l2ridehd
Default

The sales person is ALWAYS working for the seller unless you sign a contract for a "buyers agent". They had to sign a contract with the seller when they listed the home that is a legal contract making them have a fiduciary relationship with the seller. They represent the seller and during every aspect of the sale are looking out for the best interest of them, not you.

So never share confidential information with the agent. Example: If you make an offer on a home selling for 275K of 260K and you tell the agent that if they refuse, I will go to 270K. They are bound by law to tell that to the seller. If they don't and it somehow came out later, the seller could sue them for that additional amount and they would win. And the agent would probably lose their license. So even if you know you will go to 270K, it is important to tell that agent that if they don't accept the 260K, that you are moving on to a different home. I go so far as to tell them I am have another home with an MLS or VLS (opposite of who I am working with) agent that is my next choice. I want them working as hard as possible to "sell" that offer to the seller. Not say lets try for a little more. Think about how you would present the offer if it was a FSBO.

Think about your self as a seller and how you would want your agent handling an offer for your home. They work for the seller, not you. You can hire a buyers agent, who is then bound by real estate law to work in your best interest. However most homes for sale already have a sales agent representing them. All except FSBO's

As for other things to consider, buy the most home you can afford, buy the very best location you can find. Avoid the power lines, close to roads, close to sewage treatment plants, etc. All those things have a negative impact on value. You will find some of the best buys in those places, but right now with prices low, you can find better values with out those compromises. And someone will say they bought there and love it, and I am sure they do. But based on 3 years of tracking home sales, those things negatively impact value for a majority of buyers. Consider bond amount, added features that your willing to pay for in pre-owned, and location, location, location. I would also consider renting for 6 months before buying. You will know so much more about where you really want to be when you buy. TV is a big place and there are significant differences between different locations.

Good luck. Your dream home is here, just take the time to find it.
__________________
Life is to short to drink cheap wine.