Home buying shows

March 31, 2009 at 8:56 am 1 comment

I like to watch shows on first time home buyers, and HGTV has plenty of them.  Some of my favs are My First Place, House Hunters, and Property Virgins.  Last night Jeff and I were watching an episode of My First Place, and I couldn’t help but think these first time home buyers didn’t know what they were doing.  Now I’m not saying that I’m an expert on the subject, but I certainly feel like I’ve done a lot of research!  The particular couple on the show last night looked at several houses and fell in love with one that had a list price at the top of their budget.  Their realtor convinced this couple to make a FULL PRICE offer because someone else was interested in that house and also writing an offer!  I could not believe this realtor.  I felt like she was taking advantage of the young couple who didn’t know any better.  For all I know, the realtor could have been just telling them that another offer was being written and it may not have been true.  Well in the end the couple’s full price offer was accepted (surprise, surprise) and they got the house.

I don’t think that most people actually pay the asking price on a house.  I certainly won’t be!  This is a buyer’s market and we have to take advantage of it!  I plan on bidding below the asking price as well as asking the seller to pay closing costs.  To all first time home buyers: you do not have to offer what your realtor suggests!  You decide the amount that you want to offer and stick to it.  (but also take the comparables into account)  If your realtor tries to pressure you to offer more then find someone else!  The seller may not accept your first offer, but that is ok.  Go back and forth until you are both happy or just find a different house.  There are plenty of them out there!

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Entry filed under: Home Buying Tips, Research.

Pre-approval Reasons to buy a house

1 Comment Add your own

  • 1. Jeff Finley  |  April 4, 2009 at 2:04 pm

    Good article beanie, I like how you are giving tips to other buyers and not just talking about your experience!

    Reply

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