buyer who finds that dream home may wonder why the owner is
selling. You may be tempted to ask. Is that proper?
Or is it rude?
As a buyer you need to know more about the home than simply the
number of bathrooms and bedrooms. What the owner tells you about
the property, its condition and why they are moving can be
invaluable. You could also find a better deal.
Buyers should remain polite and tactful. If you want
information, don't come on like a drill seargant. You don't want
to upset the seller or give away your bargaining position.
You could mention how lovely the home is and ask why the owner
is moving. This is a question in a compliment. It is rarely
offensive.
A lot can be found in the answer.
There are many reasons people move. They need more space. They
are getting older and there are too many stairs. They are
retired and going to live their dream. They want to be closer to
grandkids. They have a new job in another state.
But would you expect to hear that:
The leak in the basement makes it impossible to have a bedroom
down there. After the hurricane, we decided to buy a new home
rather than repair this one. We don't care what the inspector
says, we've lived here 30 years and the roof looks good to me.
We're getting a divorce. After 20 years working with asbestos,
the company laid me off. Ahhh! While some answers are innocent,
others are a little alarming.
What you are looking for is clues to help you make a better
offer. You want a low price with terms and conditions to cure
any problems.
For example, a divorce is a common reason to sell a home. The
home symbolizes their lives together. The need to sell the home
quickly might just work to your advantage.
The same for someone with money troubles, job woes or someone
who has been transferred out of state.
There are some questions you shouldn't ask.
Don't ask how much the owners paid for the property. Don't tell
them you heard they spent x amount of dollars on the property.
It doesn't matter. What is important is the current market
value. If they got a bargain 15 years ago, what does that mean?
The seller wants to sell for as much as the current market will
allow.
Keep in mind that you should look out for your best interests.
You are a home buyer and obligated only to yourself for the best
price and terms. If you pay too much, you are simply giving
money away.
All properties have market value, which is determined by many
factors, including personal issues. If someone needs to sell a
house in twenty days and you can make a deal, why pay the top
price.
All interactions with owners should be friendly but cautious.
Don't just automatically believe that they are your friends.
Expect some questions aimed at you as well.
Why are you buying? How much are you going to put down? When
would you like to move?
Copyright 2006 #1 Loans USA
About the author:
Martin Lukac, represents #1 Loans USA
http://www.1loansusa.com a
finance web-company specializing in real estate/mortgage market.
We specialize in daily updates, rate predictions, mortgage rates
and more. For daily mortgage rates please visit
http://www.RateEmpire.com
