Charlottesville Real Estate

Common Mistakes that could cost you Money

Don’t make these mistakes that could cost you money!  Here are some common mistakes buyers make:

1.  Not understanding who the Realtor is working for.   It is important for buyers to understand that the Listing Agent for a property represents the seller and his/her best interest.  An agent you meet at an open house may or may not be representing the seller.  Buyers need to have an agent who is working and representing their best interest during the house hunt and negotiating process.   I am happy to explain how agency can work for you.

2. Failing to have a Comparitive Market Analysis done on a property before you decide to make an offer.  Using the most recent sold data of similar homes will help you ensure you are comfortable with the offer you put in on a home.  Looking at the number of days homes in the area have taken to sell and the difference between the asking and sales price will help you understand the value of the neighborhood.  Before you put in an offer to purchase I tell you about the recent sales and things that may affect the value of the home in your subject neighborhood.

3. Not recognizing  different negotiating strategies.   Buyers for the most part want to get the lowest price for the home they can get.   There are different ways to achieve this objective.  If price is your primary concern then there may be other parts of the deal that can be worked to help you get your low price.   It is also crucial to begin negotiations at the right price point, starting out with a low ball offer may polarize the negotiation and lead to no counter offer.   Having me as your agent, who can assess the situation and use it to your advantage will allow you to reach your goals with as few hassals as possible.

4. Letting your emotions outweigh your reason.  Buying a home can be very exciting and can be an emotional decision.  However, your home purchase ought to be validated by solid facts and data that will allow you to achieve your long term goals.  As an experienced real estate professional, I will help you step back and look at the situation from a logical point of view. 

5. Not understanding your contractual obligations when signing an offer to purchase.  When you sign the residential contract to purchase you are responsible for certain conditions and obligations, make sure you understand the contract and what it involves.  I never pressure my clients into signing a document they have not read or fully understand.

6. Failing to use a certifed Home Inspector to do a complete inspection on any home you put a contract on to purchase.  Failing to have thourough inspections could cost you thousands of  dollars down the road.  I work with the best certified Home Inspectors in our area and can recommend names to you.