Six House Hunting Pitfalls, Part Three

From Trulia:

Sometimes, house hunting failures are at the fault of the agent or market; other times, its buyers who unknowingly sabotage their search.  You can find parts one and two of the series by clicking the links.

5. Foregoing inspections.

In a perfect world, sellers would disclose every single issue to the prospective buyers. Since that’s not the case, inspections are a great idea; yet one that Sweeney sees clients skipping too often.

What Agents Can Do:
“I have a strong knowledge of construction and always advise my clients to pony up and have both an independent pest and contractor inspection,” says Sweeney. Inspections identify red flags and can address the general state of a property. Plus, they can provide leverage when it comes time to negotiate. Discuss these issues in details with your clients, and remind them of how much neglecting inspections may cost them in the long run.

6. Buying a “project.”

The unwritten rule of renovating states that it will take more time and money than expected. So it’s important for buyers to know their threshold for renovations before buying a fixer-upper.
What Agents Can Do:
Be prepared to share referrals to general contractors and specialty tradesmen. It doesn’t hurt to schedule a showing with one of these pros in tow either. It’s better for clients to know what they’re getting into before they find themselves in over their head. Plus, a happy new homeowner is the source of a great recommendation and referral clients for years to come.

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