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Home Buying Dos and Don'ts |
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| Do hire a broker to represent you and your interests, choosing Osborne & Company as your Buyer's Agent ensures you that your unique needs as a buyer will be met. If you haven’t hired a broker, don’t tell a seller’s agent how much you want the property or how much higher you are willing to go if your first offer isn’t accepted. Seller’s agents are obligated to pass information like this along to the seller. Information such as this revealed to your own agent must be kept confidential. Don’t make an oral offer, even if accepted in front of witnesses and backed up by a deposit it would not be legally enforceable. According to the Statute of Frauds, real estate transactions are unenforceable unless written. Don’t make an unrealistically low initial offer expecting a counter offer from the seller that reduces the price, and then make a slightly higher counter offer anticipating more bargaining back and forth. In our generally strong market, you are more likely to anger and insult the seller than to arrive at a satisfactory agreement. Don’t use tax assessment figures to determine a price on which to base your offer. Recent sale prices will be a more accurate indicator of a reasonable price. Do make sure you know the market for the neighborhood in which you are making your offer. Your broker can provide information about comparable sales, current supply, and age of a listing that can assist in arriving at an intelligent offering price. Don’t assume that all properties are listed with five to ten percent padding. The listing price may be at or near market value because a quick sale is wanted. Don’t dally with a recently listed, well-priced property in a neighborhood you love. In our experience, for example, a well attended open house for other brokers and buyers may yield several offers by the end of the day,. You may want to offer full price, if you and your Buyer's Agent agree that it is prudent. |
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Osborne & Company, Inc.
- R E A L T O R S 800-480-2122 • Direct: 239-450-5887 • Office: 239-566-1212 • Fax: 239-566-1411 Email: info@osborneco.com • 801 Laurel Oak Drive #625 • Naples, FL 34103 |
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