When you find a property that you love, the process of buying the home should go smoothly. While this is optimal, this is not always the case. It's possible that you find a number of problems that need to be addressed after the home goes through an initial inspection. The sellers may be in a foreclosure proceeding or trying to sell the home under a short sale. Other buyers may come forward that are more appealing to the seller. Whatever issues arise, working with a real estate agent is essential when you are going through a complicated buying process. While you may want to handle the purchase of a new home on your home, the services of a Realtor are invaluable when the deal gets difficult.
When There are Problems at the Inspection
Cosmetic problems at the time of your inspection don't usually give you much negotiating power when you are the buyer, but if you discover that the home needs a new roof, you may be able to get some money off of the total purchase price. Your Realtor will know what you can negotiate, and what repairs a seller is responsible for after the initial inspection is done. You don't want to spend your time arguing about a repair, only to find out that the seller doesn't have to address it.
When the Sellers are Trying for a Short Sale
A short sale means that the sellers are trying to avoid foreclosure by selling their home for a price that is lower than what they owe on the home. The process can be tedious, and it is up to the lender to accept the offer for it to go through. The seller is working with their lender to sell the home at the price you offer, but the lender doesn't have to accept it. When problems arise with a short sale, your Realtor is going to know how to handle the process for you.
If You Get Into a Bidding War
Once your offer is accepted, you should be able to purchase the home you want with no problems. The seller has to abide by your initial offer, but some try to get out of the offer if a better one comes along. If your offer isn't officially accepted, you may find yourself bidding against other buyers for a property. Your Realtor will be able to negotiate on your behalf, and will only do what is in your best financial interests.Share