Jeff’s Carlsbad Blog for First Time Home Buyers


How to Become a Good Buyer! (Part 5 of 5)

Posted in Financial,Housing Market,Psychological Stuff by Jeff Dowler on December 13, 2006

This is the last post in this series on becoming a good buyer. I hope you have found it useful and that you will take to heart these suggestions. Are there other things that should be done? No doubt. But I believe this captures the highlights that will enable you to be the best consumer you can be.

Let me summarize by talking some about what a good buyer is.

Being a good buyer means becoming as educated as possible about the home buying process, understanding local market conditions, and having realistic expectations of what your needs are relative to the amount you can afford to spend. Regardless of the amount you are planning to spend, if you are not honest about your needs and what you “must have” versus those things you are willing to trade-off, and you do not understand how the process works, you will not be effective, and will end up wasting time and becoming frustrated and disappointed.  No matter how much or how little you spend, everyone wants to feel they are paying a fair price for what they purchase in their particular market, and so it is essentianl that you get to know the local market conditions. Part of becoming a good buyer also means being serious about making a purchase when you find the right property; if you are just spending time looking at properties without the intent to buy, or having no idea of what you want and where you want to live, you are wasting a lot of time – yours, your Realtor’s, and the owners of the homes you are visiting.  

Another aspect of becoming a good buyer is the nature of the relationship you have with your real estate agent, and the on-going communication between you throughout the process. Your agent is there to assist you in finding the right property at a price you can afford, but s/he is also there to provide information, guidance, and support, negotiate the transaction, and coordinate the process with all the other parties who will be involved until the closing. Your agent needs you to clearly communicate your needs, concerns, and questions, cooperate with requests for information, and provide, as well as receive, open and honest feedback.

Good luck in your purchase. And if I can help in any way or answer questions about the process or the market, just let me know. 

 

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  1. […] have written extensively on How to Become a Good Buyer, and hopefully you have seen all 5 parts of the series (links to the other posts are here – […]


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