What Drives Home Buyers Nuts

It's not a secret that some sellers do things that drive buyers nuts. Here are just some:

1. Many sellers don’t want to accept the fact that their home is worth substantially less than they paid, or what they thought it was worth. Some sellers base the asking price on what they “need” (like the balance left on their mortgage). Or they calculate the price they paid, plus the cost of renovations or sweat equity. The problem is that none of those factors has the slightest relation to what a house is worth. As a result the sellers set an unrealistic price, and that drives buyers nuts.

2. Occasionally you see ads that read “cash or conventional preferred.” Or the more flagrant version: “No FHA or VA “. Some sellers may mistakenly believe closing on a government-secured loan will take longer, when in truth, some conventional loans can be harder to close. A few sellers may suspect their homes won’t pass the more stringent inspection conducted by an independent, government-certified professional. Those restrictions drive buyers nuts.

3. “Silent treatment” is another one! You look at the asking price (which is a little high), study the comparables and make a solid offer. And you’re met with … silence. Instead of seeing your well-researched bid as a place to start negotiations, the sellers act offended. Whether the seller’s “offense” is strategic or genuine, it’s not smart to ignore an offer.

4. Covering up flaws is the next pet peeve. From employing strategically placed carpets to concealing unpleasant facts about the home, attempts at deception drive buyers batty. Advice to sellers: disclose everything, no matter how minor.

5. What drives a buyer crazy? Falling in love with a house that’s not really for sale. That's called “Playing Mind Games”. Or falling in love with one that has problems that a seller refuses to fix. Sellers who refuse to make needed repairs believe the buyers are hooked. And for buyers who decide to go ahead with the purchase the big question becomes: “Where’s that money for repairs going to come from down the road?”

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