How Homebuyers Can Stay Sane in This Seller’s Market
So, where were we? Last week I talked about some smart things a buyer should do to compete in this current seller’s market. This week is about getting from the offer to the close.
The typical real estate contract asks for a 30-day escrow period. This means you’ve got a month to perform inspections and other due diligence, schedule your move, deal with the bazillion little things that are bound to come up—all on top of the typical demands we humans endure. It takes teamwork, and your agent is the coach of the team. You’re more like the team owner.
It’s very rare for a home sale transaction to go off without a hitch. Often, one or more parties in the transaction is buying or selling another house, simultaneously.
A solid agent will not only have a strong team on her bench, she’ll also be able to play well with others. While you always have the final say when it comes to buyer decisions, there are many players on the seller side. Your agent needs to be able to:
- Set reasonable expectations.
- Foresee possible landmines, and take action to avoid them or minimize the impact.
- Keep everybody on schedule.
- Do what’s best for the client, while always treating all parties fairly and with respect.
A good agent never puts ego ahead of the client’s best interests. Sadly, this happens all too often. I have stories that I’ll take to my grave…
Buying a house is a process, and not an easy one, despite what your ol’ Uncle Clem says. Every shortcut, misstep and detour can cost you money, and perhaps a little piece of sanity, too. Sometimes, it can cost you the house all together. Unfortunately, I know lots of those stories, too. When the time comes to make one of the biggest decisions of your life, be smart, be educated and be aware.
