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    July 21, 2010
    If You Can’t Pay, Don’t Play

    One of my real estate instructors once said that people love agents to drive them around showing houses.  I heard that when I took all of my real estate classes learning the law, marketing, and salesmanship.   I was convinced that eventually people *would* buy so you might as well stay on their good side and show them a house or two.

    Almost seven years and thousands of miles later, I don’t just drive anyone around anymore.  Unless they talk to a lender first (or have proof of funds if cash buyers), they stay with their feet firmly planted on Terra until I learn more.  I want to know exactly how much the lender says they can afford rather than learning they have champagne taste on a beer budget.

    A buyer called earlier today to say that a house in her Mom’s neighborhood has come on the market listed at $175,000.  Another neighbor told her that the seller just wants to get rid of it and would take $80,000 for it.  Naturally I doubted the truth to this, but promised to look into it and call her back.  I learned that the “new” owner bought it for $157,000 just 10 months before and remodeled it.  I knew there would be no way they’d give the home away for $80,000.

    If it sounds too good to be true, then it’s too good to be true.

    Another agent told me she has been working with buyers today who want to buy, but only if the seller will come off the price $40,000 to $50,000 dollars.  That just doesn’t happen, either.  You have to put yourself in the position of the seller and ask, “Would I do that?”

    Would you?  Probably not, so don’t expect a hand-out from the seller.


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