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From: heneghan@ihu1m.UUCP (Joe Heneghan)
Newsgroups: net.consumers
Subject: Re: Need advice on bidding on a house
Message-ID: <688@ihu1m.UUCP>
Date: Mon, 23-Sep-85 15:11:23 EDT
Article-I.D.: ihu1m.688
Posted: Mon Sep 23 15:11:23 1985
Date-Received: Fri, 27-Sep-85 07:12:37 EDT
References: <713@whuxl.UUCP>
Organization: AT&T Bell Laboratories
Lines: 49

> [property of netbug]
> 
> It's that time in my life to settle down and buy a house and live
> happily ever after.  However, after dealing with a local real estate agent,
> I'm beginning to realize that buying a house is extremely stressful
> and time consuming.
> 
> First of all the prices are outrageous!  I sincerely believe, that
> real estate agents intentionally jack up the listed price of a house
> to increase their commission.  So question one:
> 
> (1) Does anybody have a formula (or rule of thumb) for coming up with a price
> offer, based on the listing price, location and/or other factors?

 Mostly see what other homes are going for with similar characteristics
 and don't forget to include what it's going to cost you to fix and remodel
 to what ever degree is required to your liking.

> 
> (2) Is it better to deal exclusively with one realtor or use several?

 No question here- some expect you to buy a house in a day and some will
 stick with you for a year if need be. Some will pressure you and some
 will try to find you a house they like and not what you like.

> 
> (3) Should I apply for a mortgage now, before I've found a house, or wait
> until I find one?
> 

 If your realtor is worth their salt they will look for you at all
 alternatives.
> 
> Any advice on general strategies for dealing with agents and sellers would
> be appreciated.
> 

1. Make sure you account for loose ends like things that need to
be fixed. Tell your lawyer that you want some contingency to make
sure things get fixed and when you close, don't wimp out, make them
pay up.

2. When you make an offer, be sure it's written, stay away from verbal
offerings.

3. Look the house over carefully yourself. If you have a hunch about
something, there's probably a reason.

		Good Luck	Joe Heneghan


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