Buying a home can be tricky. Unfortunately, it’s not as simple as choosing a home you like for the price you want and inking a deal. There is a lot more that goes into it. We won’t focus on all the details. Instead, we’ll focus on what’s most important when it comes to buying a home, which is the relationship you have with the seller. Many people overlook this important factor, which ends up costing them a deal. The relationship between a homebuyer and a seller is just as important as any other type of relationship. If you’re fair and honest, the odds of the relationship working out greatly increase. If you’re looking to buy a home in Miami, then it’s imperative that you avoid saying and doing things that could kill your deal.
You don’t have to hide the fact that your goal is to get the best price for the home you love. That’s understandable. As long as you keep the seller’s interests in mind, you should be able to work out a fair compromise. However, if you go overboard when trying to land your Miami dream home, you will only find yourself out of luck and wishing you had acted differently. We’ll take a look at the most common mistakes homebuyers make so you can avoid them.
Don’t badmouth the home you want to buy. This will only infuriate the seller. You have to keep in mind that the seller most likely established many loving memories in that home. They’re not going to want to sell it to someone who bashes that home. You might want to drive the price down, but this will only appear dishonest. If you really didn’t like the home, then you wouldn’t bother with it in the first place. Badmouthing the home in an attempt to lower the price will only be looked at as a manipulative tactic. Another factor you have to keep in mind is that if you badmouth the home, the buyer will counterattack your argument and point out why you’re wrong. Remember, they have much more experience with the home than you do. Therefore, they’re going to have a stronger argument. This argument should never take place. Once it does, a bad aura develops between you and the seller. Then there is no chance for a deal. The seller won’t want to deal with someone they don’t like.
Another no-no is to point out how the Miami home across the street sold for much less. It’s almost a guarantee that they’re already aware of that. Pointing this out will only aggravate them. They will likely go into a detailed rant why their home is worth much more and begin to look at you as a wheeler and dealer opposed to a buyer they can trust.
You might think it’s a good idea to make a low offer on the home. You’re correct. However, don’t go too low. If you do, the seller will feel as though you’re insulting his intelligence and he will not have any interest in working with you out of fear that you’re going to look for every advantage. If they think you’re lowballing, they will not make a counteroffer. It’s important that you make a competitive yet fair offer. In order to do so, figure out the range for the home and make an offer toward the low end, but not at the lowest point. If you don’t feel confident doing this, then consider hiring a local real estate professional.
Are you preapproved for a mortgage loan? If not, your odds of buying a home greatly decrease. The seller is less likely to work with someone who hasn’t been prequalified for a loan. Sellers want to see financing in place when they pull their home off the market.
We have covered the most important points, but there are still a two other tactics to avoid using when you’re looking to buy a home in Southern Florida. Don’t renegotiate midway through financing. This can be an automatic deal killer because the seller will feel as though you’re attempting to take advantage of him. Also, don’t make a high offer and then change that offer after the appraisal by pointing out problems with the home. This is looked at as misleading to the seller.