Using Instinct When Trusting a Home Buyer

Agent, Contract and Inspection Decisions are Key

By Kathleen Rundle, published Oct 08, 2007
Published Content: 44  Total Views: 9,263  Favorited By: 16 CPs
Rating: 4.8 of 5
Real-estate scams are everywhere. It seems that otherwise-honest people get caught up in the fight for a better price, too. With all this dishonesty and deception, selling your house can be intimidating. Here are some simple tips and things to keep in mind during the selling process.

Finding an Agent
The agent with the billboard off the freeway certainly does have a lot of money, and that means he does a lot of business. If you live in a seller's market, he may be a great agent for you. He has lots of connections and can probably make a quick sale for you. If houses don't tend to sell themselves in your area, you may want to find someone less successful. That big time agent isn't going to want to waste his time working to sell your house. He has plenty of others to rely on and can afford to wait however long it takes for yours to sell too. A new agent really needs the sale, and the customers, though. Someone new to the trade will really fight to sell your house for the best price she can. She's also less polished and so more likely to be honest with you. She just doesn't have as much practice creating believable real estate deceptions.

Going without an Agent
Alternatively, you could sell your house yourself. You'll still need someone to handle some of the papers, but you can rely on the buyer's agent or only hire out what you can't do yourself. This saves you money but can be overwhelming.

Takeaways
  • Someone new to the trade will really fight to sell your house for the best price she can.
  • Contracts should be easy for all parties to understand.
  • If all else fails, trust your gut.
Did You Know?
"One of the most common cases of real estate fraud I've seen are forgeries by spouses and family members," says Bert Rush, senior vice president of Santa Ana, Calif.-based First American Title Insurance Co.
Comments
Showing Comments 1 - 3 of 3
 
 
Great advice.

Posted on 12/10/2007 at 11:12:14 AM

 
Excellent information. We had a bad feeling about the people that bought our home (and their sneaky real estate agent and title company), and were right--it almost fell through at the very last minute, and there were some shady things going on. Thank goodness for our wonderful real estate agent, who really saved the day. Nicely written piece.

Posted on 10/09/2007 at 5:10:00 AM

 
Good tips!

Posted on 10/08/2007 at 3:10:00 PM

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