The Quad Cities..A Great Place To Call Home!

Real Estate Myths (for Buyers)

"The best way to find a home is to check the real estate ads" Real estate companies have to have their ads turned quite a while before the ad comes out in the newspaper. The best homes, the ones priced right, the ones in good condition, sell fast and many times before they ever make the paper. You need a way to find out about these homes quicker.

"Homes Magazines are a great place to look for new listings." The homes magazines have an even earlier ad deadline (about 4 weeks before the issue is published) and the magazines have a issue shelf life of a month. It's one way for the sales associates to advertise, but it's not necessarily good for the buyer.

" The best way to find your dream home is to drive around until you see it." Often you'll find that the houses that look like your dream home are usually just thata dream and they'll be pric'd way higher that you want to pay. Also, there may be a "diamond in the rough". That's a house that doesn't look special, but inside it will be just what you are looking for. It may well be priced great due to the lack of curb appeal. But how do your find it?

"I'm afraid I won't be able to qualify for a loan, so I'll just call people who are trying to sell their homes by themselves and see if I can buy them." Sorry. You�ll still have to get a loan. Many For Sale By Owners are selling by themselves because they may have high loan balances and think they are saving needed money...but can't do owner financing. You should check with a good mortgage broker who can help you find a loan even if your credit is a little "iffy".

"There's no need to talk to a lender before I write a contract on a house, I know how much home I can afford." By not getting a pre-approval letter, you could lose that perfect home to someone who got one from their lender already. (Buyers like pre-approved buyers more than the unknowns)

"The people with the most listings will be the best ones to find a house for me." Quite often sales associates with lots of listings are "listing specialists", they prefer working with buyers. Some other just liwant to sell their own listings. You need to find someone who is good with buyers and who will actively look for your future home.

� 1998-2006, L.S.G. Enterprises, Inc.

About the Author: Linda Grissette is an active real estate broker in Bartlesville, Oklahoma. As the owner of VIP Real Estate Group, she is exploring exciting new concepts to improve the profitability of real estate companies and associates. She has been in real estate since 1981, beginning her career in St. Charles Country, Missouri. Linda is also the owner of Real Estate Career Development and has developed some exciting new products to help real estate professionals.

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