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Randy King's Blog

By Randy King | Agent in Colorado Springs, CO

Top Buyer & Seller Mistakes - and the Solutions!

Top Mistakes of Buyers & Sellers – AND SOLUTIONS!

The top 3 mistakes each side is making & how to avoid them…

 

SELLERS

 

No-No #1:  Picking the wrong agent to list your house.

The Solution:  Rather than choosing an agent because they are popular in town or a friend knows them, do your online research, meet with several agents & choose the one with the best marketing plan, the best communication & the best track record of success.

 

No-No #2:  Listing your house at the wrong asking price.

The Solution:  Listen to your real estate agent first & foremost on where to set the price, rather than focusing on your personal need and/or emotion.  A good agent will have good comps & can help you determine fair market value, which will get your house sold much quicker.

 

No-No #3:  Not highlighting the best aspects of your house.

The Solution:  Start by cleaning your house thoroughly.  Then ask your agent for advice on possible home repairs and/or staging ideas to make your house more attractive to buyers.

 

 

BUYERS

 

No-No #1:  Assuming that the real estate agent is representing  you, the buyer.

The Solution:  If the real estate agent you are working isn’t your exclusive buyer agent, then they do not represent you – they represent the seller.  Find your own agent to make sure you are fully represented.

 

No-No #2:  Not finding out about issues (i.e. hidden defects) before buying the house.

The Solution:  Hire a licensed inspector to do a home inspection before closing on your house.  Your buyer agent can help you find an inspector and help you make sure your purchase contract includes the right to that inspection and the right to object to any defect discovered during the inspection.

 

No-No #3:  Getting the wrong mortgage or financing for your purchase.

The Solution:  Consult the right professionals before deciding on a mortgage – utilize a good mortgage consultant, CPA, and/or financial planner to help you review your options and save you money.

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