Home Buying Myths Busted

Home Buying Myths Busted

07/24/2015 | Author: Summer Mandell

Buying a home can be complicated, so it’s easy to get misinformation about the process. A Texas REALTOR® can help you avoid problems, but here’s some clarification about a few false assumptions.

Myth: I can use sites that list home values to figure out a fair offer price. 
Truth: There are a lot of sites online that offer estimates of how much a home is worth, but they’re not always reliable sources. If you use them to come up with an offer, you may end up spending more than you need to. A Texas REALTOR® has access to accurate information about your market, other homes sold in the area, and property features, which can help you arrive at an appropriate offer price.

Myth: Sellers have to fix issues noted in an inspection report. 
Truth: They don’t—even if you ask them to. Repairs are a negotiable item like other terms of a contract. If a seller does not agree to make requested repairs and your contract includes a termination option, you have the right to terminate the contract prior to the option period’s expiration.

Myth: A seller has to accept my full-price (or above full-price) offer. 
Truth: A seller is not bound to accept any offer, even at full price or above. A seller may choose to accept an offer because of other favorable terms, such as an earlier closing date.

Your Texas REALTOR® can help clear up confusion when it comes to buying a home. 

SOURCE:  NAR website

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Dated: August 1st 2015
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