There are a lot of questions regarding real estate.There are a lot of “what ifs?” in real estate, and I thought I’d share some answers with you.
Many buyers ask me, “What if I buy now and the market continues to decline?” My opinion is that you buy what you can afford, which means the monthly payment is manageable for you. When you talk to a lender, remember to tell them how much you can afford to pay each month and then have them calculate the purchase price that is affordable for you.
“What if I make an offer too low?” Great, make an offer. Over the past 10-plus years, I can still never predict what a buyer or seller will do when it comes to making a final decision. Offers too low can offend a seller. So when you make an offer, submit it with a pre-approval letter and your reasons for making that offer. Discuss your strategy with your realtor.
“What if the appraisal comes in below the sales price?” If this happens, there are a few things that can occur: the buyer could increase their down payment to satisfy the lender; the seller could drop the asking price; or the deal could just terminate. Remember, all things are negotiable in real estate, so consult your realtor.
“What if something horrible is discovered during the building inspection?” Again, all things are negotiable. No house is perfect, but if the inspector finds some major, costly issues that must be dealt with, the buyer can ask the seller to repair, replace or contribute money to resolve the issues. Be sure the resolution is in writing, and that it is clear and exact. Again, consult your realtor.
For all your “what ifs?” consult with your realtor. If you don’t have one, give Chris Bakeman Realty LLC a call.
Chris Bakeman, broker, has been a realtor since 1997, selling in both buyers’ and sellers’ markets. Now with her own company, she offers an affordable way to sell your home starting as low as $4,000 full service on the MLS. Contact Chris Bakeman Realty LLC at 283-6126 or www.chrisbakeman.com.