News From Terre Haute, Indiana

Real Estate News

July 2, 2012

About to Buy a New Home? Don’t Show It to These People

Syndicated — A listing agent may have shown a prospective buyer a specific house two or three times. Now the buyer wants another showing, which is surely a good sign that she's ready to make an offer. The buyer also tells the agent that she wants to bring her new boyfriend, best friend, out-of-town parents or co-worker with her to the showing.

Well meaning as these confidants might be, they may inadvertently side track the home search or kill off the opportunity for what could have been the perfect home for the buyer. Here's why, and what you can do to avoid it.

You've Been on a Journey-Without Your Friends or Family

As a buyer, you often go on a journey through the homebuying process. It starts with dipping your foot in the water and feeling out the real estate market. The journey ends with a solid knowledge of the recent sales, the details on the neighborhood or neighborhoods where you want to buy and concrete information on the values and what you should be paying. You may have toured hundreds of homes and even made a few offers before you're ready to buy. But now you are ready and willing to pay the market price for the house and location.

Now you feel it's time to show someone the home you want to buy. You bring in a third party. But here's the potential drawback: Your friends and family haven't been on your homebuying journey. They're most likely not familiar with the market, the current home values or the neighborhood. Without that information, they might instantly think you're paying too much - and they'll be quite vocal about it. Your well-meaning friend or parents from another state might think your dream home is really a nightmare.

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