Home Buyer & Home Seller Special Reports


*SOLD by TONY*

Information Every Buyer & Seller Should Know

11 Mistakes Buyers Almost Always Make When Purchasing A Home
17 Mistakes Sellers Make When Putting Their Home On The Market And How You Can Avoid Them.
For Sale By Owners - Why Some People Are Afraid To Buy From You

11 Mistakes Buyers Almost Always Make When Purchasing A Home.

Making Too Low of an Offer - You would be surprised on how many dream homes are lost because of the buyers inability to move a little on price, terms and concessions. Remember that $5000 in today's loan market increases your monthly investment $40 per month-the cost of on average dinner out-hardly a price worthy of giving up a lifetime of satisfaction. Follow your professionals advice if you really want the property!
Not Using Your Real Estate Professionals Team - Lenders, Title, Escrow and Inspectors are all important members in the purchasing process. They must be the best and the must work together, your agent is the best coach in assembling the team!
Not Getting a Professional Inspection - Your real estate agent can point out obvious defects, the appraiser, whether FHA, VA or Conventional can also point some defects, but you always need an inspector who puts on the overalls and crawls below, in and above your future investment to write up a complete report.
Not Differentiating Needs, Wants and Dreams - Write down your minimum needs, then the "what would be nice" items, the the "in my dreams" items. A great agent always fulfills your needs within your financial capabilities and usually surprises you with many of your wants and dreams.
Getting Financing to Match Your Ownership - When counseling with you agent regarding your purchase, your financing terms have to be consistent with your ownership. For instance, if you are not going to stay in the property for long, then get variable rate financing so you can have the lowest interest rate during the time of ownership plus probably an assumable loan when you go to sell. Long term ownership? Go for a fixed rate loan so you can lock in a market rate for 30 years.
Don't Let Decorating Make Your Decision - Paint, carpet, spit shine are great, but don't turn down dirty dream homes that would be perfect for you because of dirt, horrible decorating or overdue repairs.
Don't Look for Fixer-Uppers at all costs - Not all fixer-uppers are good deals. We have seen many a rough home, not priced low enough to compensate you for the pain, trouble and expense of owning the "money pit"!
Not Seeing Enough Homes - After being counseled by a real estate professional on your needs, he or she should be able to narrow the field to 7-12 properties. If your needs were well communicated and if your means match your needs, you should be able to make an offer on the first selection.
Having a Great Realtor - Probably goes without saying! A great Realtor will find properties beyond the traditional MLS selection. They network with top agents, they send direct mail to target neighborhoods and they contact past clients in their database thus providing you with the best home, at the lowest price, best terms in the fastest amount of time.
Buying for Immediate Needs and not Future Needs - It costs a large amount of money to take a position in real estate. If you can spend just a little bit more for that extra bedroom for a future child or an in home business, now would be the time to do it, or get enough land to add on!
Move Fast - The best properties on the market move fast, once you are involved with your Realtor, make decisions quickly!

17 Mistakes Sellers Make When Putting Their Home On The Market And How You Can Avoid Them.

Price Too High - Have a professional determine comparable sales.
Not Making Profit Inducing Repairs - Have a professional give you low cost solutions to minor repairs that will yield you big profits.
Not Considering Other Financing Terms (besides cash) - Have a professional give you options that may be better than cash.
Market Timing - Have a professional determine if the market cycle is poised to net you the most money.
Providing Easy Access for Showings - There are many way to show a home. Appointment only is the most restrictive, lock boxes are the least, have your professional determine which is best for your lifestyle.
Have Your Property Staged Correctly - Can you put items in storage, create more light, music? Your professional real estate agent can help you.
Pick the Right Realtor - Your Realtor unfortunately can't tell you how to solve this, but you can contact me for a list of probing questions to ask them.
Believing that Selling Property is Seasonal - Don't base selling decisions on the seasons, property is always selling.
Price Too Low - One reason to hire a professional is to make sure that no money is left on the table.
Not Utilizing Current Marketing Technology - Make sure your agent is on the "Information Super Highway" with Internet advertising for your property.
Re-Evaluate the Marketing Plan Every 2 Weeks - The market, you and your real estate agent need to make intuitive changes to stay ahead of the market.
Believing Agent Is Not Doing Job When There Aren't Any Offers - Did you know that 80% of your buyer activity comes from signs and the MLS. Even the most mediocre agent does that! If you have a lack of showing problems...look at your price.
Ignoring First Impressions from the Buyer - Sales have been blown by unkempt lawns, cluttered closets, unpainted front doors, hard to work locks, blown light bulbs, bad colors, stains, unlit areas, and bad smells. Spend time on the little things, double up on your gardener, keep things cleaner than usual and keep your pets under control.
Not Giving the Sales Effort Enough Time - You should never give too little time to which is inherently a long process. Estimate the time you have to sell and then add some time so you are never put in the position of having to do something.
Dealing With the Unqualified or Unsavory Character - One of the best reasons for hiring a professional is their ability to pre-qualify a prospect financially before valuable negotiation time is lost. And more importantly to discover motivation of a prospect that may be other than purchasing a property.
Believing You Are Powerless to Make a Difference - The top agents in the industry report that sellers themselves are responsible for many sales. You can network your business and personal friends, you can hand out flyers to your personnel department and you can keep your house "ready to move into". Your professional real estate agent should be ready to hand out all sorts of assignments to make the "team effort" successful.
Testing The Market - Never put your property on the market unless you really want to sell! Get ready for a professional sales push if you list with a great agent. If your plan harbors some indecision, get ready to be frustrated because success is the agents objective!

For Sale By Owners - Why Some People Are Afraid To Buy From You

Many homeowners believe that to maximize their home sale they should sell it themselves. At first glance, they feel selling a home is simple and why should they pay a broker fees for something they could do themselves? In fact, close to 25% of all the homes sold last year were sold for sale by owner (FSBO).

However, close to half of the FSBO's said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO's told us the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off to have paid the broker’s fee which would have included many or these charges up front.

Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBO's discovered that the lost money as a result of poor decisions out-weighed the commission

Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional. A little time spent investigating up front will pay off tenfold in the end.

Questions To Consider:

Do I have the time, energy, know how, and ability
to devote a full forced effort to sell my home?

One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes have sat on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBO's
as targets for low balling?

One of the challenges of selling a home is screening unqualified prospects and dealing with lowballers. It often goes unnoticed... how much time, effort and expertise it requires to spot these people quickly. Settling for a lowball bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to
answer questions about financing?

One or the keys to selling, whether it's a home, a car... anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had all your ducks in a row? By offering financing options you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quicker and more profitably. A professional real estate agent will have a complete team, from lenders to title reps for you to utilize...they'll be at your disposal.

Do I fully understand the legal ramifications and necessary
steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.

Do I have the capability or handling the legal contracts, agreements
and any disputes with buyers before or after the offer is presented?

Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals... title, inspectors (home, roof and septic),
attorney, and escrow company?

Are you familiar with top inspectors and escrow companies? Don't randomly select inspectors. attorneys, and title reps. Like any profession there are inadequate individuals who will slow, delay and possible even cost you the transaction. If these questions raise some concerns you may want to speak with a professional. I sincerely hope these tips and ideas are of value to you. If there is any way I can be of service please contact me... I would consider it a privilege to serve you!

Tony Meier Real Estate Services, Inc.
EastsideHomes.com
Windermere Real Estate/SCA
16261 Redmond Way
Redmond WA 98052
Direct (425) 466-1000