Not only is buying or selling a house a large investment, but also a hugely emotional experience. If you're a little unsure of the process, or just want to know where to start, we gathered the best advice from current and former realtors. Hopefully, their advice can save you some stress during the home buying and selling process, good luck!
Be Willing To Walk Away
From Redditor /u/dag1979
My biggest tip is always WAY underbid and make it a final offer. You must be willing to walk away from EVERY deal. You probably only close 10% of them if you're lucky, but the ones you get are fantastic deals.
For example, I saw a triplex come up last year. They were asking $89,000 (it needed some fixing up). I called for viewing the first day it listed. Then I viewed it, I brought my contractor friend, whom I trust more than most building inspectors to walk through with me. When he gave me the thumbs up that the problems were mostly all cosmetic, I put in an offer at $60,000, no condition, the seller gets to choose the closing date, but this is a final offer. I ended up getting it!
Now, I've put in about $30,000 (so I'm into it for $90,000), but I'm putting it up for sale at $199,000 shortly.Good Advice?
Taxes Taxes Taxes
From Redditor /u/ki10_butt
I'm chiming in to say: If you live in an area that has Property Assessors, always check with them about future property taxes. Where I live, so much can change after a sale to change the taxes you'll pay. Exemptions may fall off, the value could change. Most RE Agents in my area list the current taxes, which can be very misleading.Good Advice?
More Sellers Than Buyers
From Redditor /u/ShortWoman
Retired Agent here! Be in a slow market where there are more sellers than buyers.
That's the best way to get the best price and possibly get the seller to cover some of your closing costs.Good Advice?
A Broker’s Help
From Redditor /u/hulkster69
Financial advice – Working with a mortgage broker (A broker is someone who works with multiple banks) or directly with a reputable bank will often provide you better advice than an agent. Most agents will just tell you to talk to the lender anyway. Tell them what you want to do with your home purchase and they will work it out with you.