Realtors often come across buyers who are emotional and let their feelings get the best of their overall judgement during the deals. As responsible realtors we suggest that our buyer do not make the same mistakes when buying a home for sale in Abbotsford, Sumas, Aberdeen and other areas. Emotions are a natural part of human design, but it is recommended to keep them at bay when making real estate deals.
In the following lines we will discuss some common mistakes made by the buyers when they let their emotions take hold of their judgement during a major property deal.
First Mistake- Love at first sight
Although not a person, people often tend to fall for a property by looking at it once. This should never be the case during a purchase. One should always look at several properties, compare them rationally and then take a final decision. In case a person falls in love with a property, they might end up paying more than they can afford which hurts them in the long run. Therefore, always do a diligent research with a clear mind.
Second Mistake- Tendency To Overpay
We all want our home to be perfect. But it is not the case in most of the deals. Buyers are often driven towards the perfect image in their minds and this triggers emotions which makes them overpay or go for a property which might not be within their immediate reach. Always keep a clear picture about expenses and expectations in mind and do not fall for perfection dreams.
Third Mistake- Looking for better deals
Each market has its own set of highs and lows. Present day buyers have developed a perception that no matter what they get, there will always be a better around. Yes, the real estate market is volatile and there are chances that prices could drop or maybe the rate on the mortgages might decline, it is not recommended to keep anticipating these events for long. Market fluctuations will always be there, but like they say- there is no better time to buy a house than the present.
Fourth Mistake- Unrealistic negotiation tactics
There is no denying the fact that the buyers want the best product at the least possible price. Buyers often tend to lowball during the deals and quote unrealistic & low prices for the property. This adds to the seller’s inhibition and runs the risk of buyer losing out on the deal completely. Thus, always analyse the ongoing prices and try to negotiate within the realistic range. This practice is common among the buyers with cash and they are often looking forward for low prices due to cash availability.
Fifth Mistake- Not understanding the concept of deal
Very often we see terms like ‘short sale, ‘real estate owned’ in the marketing advertisements. This is a simple marketing strategy which fills the aforementioned buzzwords in the mix to lure buyers who are looking for a deal. In real estate market, any deal is a deal, other buzzwords are just meant to create a perception in the mind of the customer to sell. Buyers often flock on a foreclosure sale, they think they are paying less but overall end up paying more than the price desired by the sellers.
So the next time you go out property hunting, keep the aforementioned points in mind and do not make these mistakes out of emotion alone. To see latest listings in your desired area visit http://abbotsfordhomeforsale.ca/ and get the right advice from our experts today.