You have probably heard some of the seemingly ridiculous demands celebrities make in their contracts:
- Only Green M&Ms Backstage
- 1200 Thread Count Towels in the Bathroom
- Rose Scented Dressing Room
Perhaps what is not so sensationally reported is why these demands have come to be in the first place. Let’s imagine for a moment that you have been traveling from city to city for several days. You’re exhausted … you miss your family, etc. You arrive to your next location, and all you can think about is taking a nice warm shower and having a moment to yourself without the entourage or the handlers. Then BAM … the water is freezing or you go to dry yourself off and the towels are like sandpaper. …and thus, a new contract clause is born.
Now here you are buying your dream home. You are very focused on getting the “right” price and the “right” interest rate, but have you taken the time to think about the other less obvious but equally important details? How about things like:
Peace of Mind During the Biggest Purchase of Your Life
Sometimes life isn’t ONLY about the goal but the journey getting there. You want a pleasant experience on your way to homeownership. This is more than likely the largest amount of money any of us will ever spend at one time. That is stressful enough without other unforeseen issues sprouting-up along the way further complicating the situation. Your Realtor’s job is to communicate clearly and effectively in order to prevent all of the little dramas behind-the-scenes from developing into bigger dramas front and center. Take the time and do the research to make sure that you choose an agent whom you not only trust, but whose manner of communication makes sense to you. Ideally, you should select a realtor you feel is offering you those 1200 thread count towels – so to speak.
Stay Flexible
Yes, we all want the best price and the best rate. Let’s say you get a counter offer from the seller on your dream home, and they want $5,000.00 above your target price. You really didn’t want to go that high. You are mentally stuck on your “target price.” What if I told you that for $24.00 more a month on your mortgage ($5,000 30 year fixed rate at 3.92% =$ 24.00 a month) you could have this dream house? $24.00 a month to you might be very doable, and that extra $5,000.00 to the seller might make all the difference. Stay flexible. Try to look at the big picture at all times. If you feel mentally stuck, ask you Realtor for help. That’s what we are there for.
Realtors Don’t Have Crystal Balls
I had a rather challenging client once who was arguing every point with me throughout the entire process. When I asked him what was really going on he finally said quite bluntly, “I don’t trust anyone, and I’m always sure someone is going to rip me off.” Wow! If he knew this about himself, then he should have taken extra steps before engaging an agent to make sure he felt safe.
Agents cannot overcome whatever baggage you bring to the table unless you know what it is yourself. Once this was out in the open, he made more sense to me. I felt like I could really help him feel more secure by going over every step even more carefully with him. We can sometimes work minor miracles. However, agents aren’t mind readers. Unfortunately, we don’t have crystal real estate balls. We will assume you understand things unless you share with us otherwise. Don’t be afraid to ask questions. Those are your own green M&Ms moments.
Trust the Realtor You Carefully Selected
When purchasing a home your real estate agent has more than likely recommended a lender. Kickbacks? NO! Of course not. That would be completely unethical and illegal. Your Realtor simply wants you, and for that matter them, to have the best escrow possible. Different lenders have different skill sets. Some are great at explaining things to a client and getting all of the paperwork done in a reasonable time frame so that escrow can close on time. Some, unfortunately, are not. While your favorite “banking friend” might offer a great rate, do you have experience with him or her actually closing a loan? You’d be surprised how difficult this process becomes at times – even after you, the client, has turned in all the required paperwork. Trust your real estate agent, and at least speak with a lender that they know and trust for a second opinion.
Do Your Due Diligence
Like lenders, real estate agents can usually recommend a home inspector. Home inspection is your moment to find out if your new home will come up smelling like roses or a pair of old sneakers. Even a brand new home can have issues, and it’s your inspector’s job to inform you as to which things are safety related and necessary and which ones are less important. If you have a nagging gut feeling that the sewer line is old – get it inspected. If you live in an earthquake prone area – it’s a good idea to check the chimney. These are typical things your inspector may bring to your attention. You have every right to ask the seller to fix anything on your list. Just be aware that they have every right to say NO to everything on your list. This is where your agent can help guide you. If you are paying top dollar you might have more leeway in your requests. If you are getting a steal of a deal you probably won’t.
Above all, remember that we are on your side. We are only human and things can get a bit crazy. But then again any Superstar’s life is a bit crazy!
Be Bold.
Be Kind.
And…
Purchase like a Superstar!
Contributor, designer & admin for JohnHart Gazette.
