Home Sales Fundamentals: What Every Homeowner Should Know

Don't Be Afraid To Let Your Real Estate Agent Know That You've Changed Your Mind About These Things

During the process of buying or selling a home, you might think that you need to make a firm decision and then stick to it. While doing so is one approach, the reality is that many people change their minds several times throughout the process. You shouldn't feel as though changing your mind is a bad thing. This feeling may prompt you to avoid disclosing your thought process to your realtor, which can waste everyone's time. You should know that your agent has almost certainly worked with clients who have changed their mind drastically, and you shouldn't be afraid to share with your agent that you've changed your mind in any of these areas.

Buying Location

When you begin the process of searching for a home, you'll generally give your real estate agent some geographic parameters. For example, you might say that you wish to buy a house in the west end of a city, or you might get even more specific and suggest a couple different neighborhoods. There are many reasons that your preferred location may change at some point — for example, perhaps you've taken a better job and you now need to target your search near where you'll be working. It won't inconvenience your agent to change your mind. Instead, he or she will simply begin assessing listings in your new area.

Purchase Price

You may also need to change your purchase price at some point during the process of shopping for a home. The price could go up or down — if you get a new job with a higher salary, you may decide that you want to buy a higher-priced home. Or, if you decide to start a small business and devote much of your savings to that venture, you may decide to spend less on your house purchase. Whatever the case, you shouldn't feel uncomfortable sharing this change with your agent. He or she will edit the search parameters and send you new listings in your desired price range.

Conditions That You'll Accept

When you're trying to sell your home, it's common to change your mind about any number of things. One area that may have some changes is your accepted conditions. When you receive your first offers, you might have tough conditions — for example, the price must be 95 percent of your asking price or higher and the closing date must be within a month. Over time, you might change these. If the house is having trouble selling, it's reasonable to expect that you'll accept a lower offer, for example. Your agent needs to know how you've changed your mind so that he or she can best represent your interests.  

About Me

Home Sales Fundamentals: What Every Homeowner Should Know

When I decided to sell my first house, I had no idea how complex the process was going to be. From meeting with several real estate agents to completing the listing and scheduling open houses, it was more demanding than I thought. When it came time to entertain offers, I was at a loss for how to evaluate each one objectively and I made some mistakes that I wish I'd known better about. Now that we've left the closing table, I wanted to create this site to help others who may be new to listing a home. Read through what I've learned so that you can be better prepared for the process yourself.


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