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Why Representation Matters After Your Home Sells
Manage episode 172301005 series 1098865
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I believe having good representation after a home contract has been is accepted is just as (if not more) important than it is before a purchase agreement is accepted. Here's why.
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In my opinion, your representation after you execute a purchase contract on a property is just as important (if not more important) than your representation when you first buy a home and negotiate a contract. Most people don't even consider the representation afterward.
I've personally seen tens of thousands of dollars saved that would have otherwise gone out the window if there had been bad or no advice given to the client. There are two main points for this: the inspection period and the appraisal. Today, we'll just talk about the inspection period. We'll cover appraisals next time.
As for the inspection period, the buyer will do all their due diligence. When they do this, they have the right to as many inspections as they want. When they're done at the end of the 10-day inspection period, they'll submit a report of what they want the seller to fix in writing. Many sellers don't want the deal to fall through, so they capitulate and give the buyer most of what they want—this can be a grave mistake due to all the money riding on those repairs.
That's why it's good to have someone in your corner representing you who has contacts with good contractors and vendors so they can get estimates for the costs of these repairs. That way, you'll have everything at your disposal to make an informed decision. Secondly, you want great representation for their ability to negotiate and ask open-ended questions to the other agent and find out whether the buyer truly loves the house or they're on the fence about it. This can also help you get a sense of how important certain repairs are to them.
These are all things that a good agent will do for a seller after the contract has been accepted. If you have any other questions about this topic, I'd love to help you out. Negotiation can be fun and there's a level or art and skill to it, so give me a call or send me an email soon and let's get the conversation started!
I've personally seen tens of thousands of dollars saved that would have otherwise gone out the window if there had been bad or no advice given to the client. There are two main points for this: the inspection period and the appraisal. Today, we'll just talk about the inspection period. We'll cover appraisals next time.
Not having good representation after a contract is accepted could cost you thousands of dollars.
As for the inspection period, the buyer will do all their due diligence. When they do this, they have the right to as many inspections as they want. When they're done at the end of the 10-day inspection period, they'll submit a report of what they want the seller to fix in writing. Many sellers don't want the deal to fall through, so they capitulate and give the buyer most of what they want—this can be a grave mistake due to all the money riding on those repairs.
That's why it's good to have someone in your corner representing you who has contacts with good contractors and vendors so they can get estimates for the costs of these repairs. That way, you'll have everything at your disposal to make an informed decision. Secondly, you want great representation for their ability to negotiate and ask open-ended questions to the other agent and find out whether the buyer truly loves the house or they're on the fence about it. This can also help you get a sense of how important certain repairs are to them.
These are all things that a good agent will do for a seller after the contract has been accepted. If you have any other questions about this topic, I'd love to help you out. Negotiation can be fun and there's a level or art and skill to it, so give me a call or send me an email soon and let's get the conversation started!
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