Buyers can irk sellers: Here’s how WASHINGTON – April 15, 2014 – Both parties have to come together in a transaction, and real estate professionals sometimes find themselves wedged in the middle of buyer and seller disagreements. Some sellers may accuse the homebuyers of being too pushy with their demands, though that can be part of any negotiation. Bankrate recently highlighted several ways that homebuyers have been annoying sellers recently, or negotiation tactics that do more harm that good. Disrespectful house visitors: Some buyers may allow their child to run wild or bounce on the furniture. They might crank up the heat or air conditioning. They might even use the restroom. Lisa Ramsey, a real estate professional with The Ramsey Group, says its up to real estate agents to lay down some house rules when the seller isnt there. I tell buyers, Lets just pretend were walking into the White House. Shell also talk to her buyers about the trend of sellers putting [microphones and] cameras in the home. … I go into every house assuming theres a recording device in the house. Were not going to talk money or strategy in the house. Submitting a long list of defects: Ron Phipps, principal with Phipps Realty in Warwick, R.I., and a former president of the National Association of Realtors®, says that buyers do themselves a disservice when submitting an offer with a long list of whats wrong with the house. It makes sellers wonder why the buyers want the home in the first place. Instead, Phipps recommends a gentler approach: Submit a list of comparables with the offer, as well as a personal letter where buyers introduce themselves and explain why they want the house. In the letter, they can mention two or three of the major issues while keeping it personally neutral and referencing third-party, empirical sources. Too many visits: After buyers commit to a sale, they want to make lots of visits to their future home, bringing the decorators, architects and entire family with them, says Mike Lubin, associate broker for Brown Harris Stevens in New York. The sellers may find the constant visits disruptive, however, as theyre busy packing and possibly doing repairs to meet a deadline. Lubin says a possible compromise could be to have the buyer arrange a visit while the inspector is present, as well as another visit during the final walkthrough before closing. Renegotiation: Buyers sometimes agree on the price but then repeatedly demand concessions and discounts. The home inspection can be a culprit. For example, buyers may realize the furnace has about five good years left and then make a demand for a new furnace or monetary equivalent. A realistic buyer knows everythings not going to be perfect, says Matt Laricy, managing partner with Americorp Real Estate in Chicago. But signed contracts dont often stop a buyer from trying to renegotiate, Laricy adds. Buyers may say the market has changed or that theyve overpaid or they may even suffer from buyers remorse, he says. Its extremely awkward, Lubin says. Its violating the terms of the contract, and its insulting. Source: 8 Ways that Homebuyers Annoy Sellers, Bankrate (April 2014) © Copyright 2014 INFORMATION, INC. Bethesda, MD (301) 215-4688
Posted on: Tue, 15 Apr 2014 20:33:22 +0000
Trending Topics
Recently Viewed Topics
© 2015