3 Homebuying Myths Busted

Dated: 07/28/2015

Views: 758

3 homebuying myths busted

Buying a home can be complicated, so it's easy to get misinformation about the process. A Texas REALTOR® can help you avoid problems, but here's some clarification about a few false assumptions.

Myth: I can use sites that list home values to figure out a fair offer price. 
Truth: There are a lot of sites online that offer estimates of how much a home is worth, but they're not always reliable sources. If you use them to come up with an offer, you may end up spending more than you need to. A Texas REALTOR® has access to accurate information about your market, other homes sold in the area, and property features, which can help you arrive at an appropriate offer price.

Myth: Sellers have to fix issues noted in an inspection report. 
Truth: They don't-even if you ask them to. Repairs are a negotiable item like other terms of a contract. If a seller does not agree to make requested repairs and your contract includes a termination option, you have the right to terminate the contract prior to the option period's expiration.

Myth: A seller has to accept my full-price (or above full-price) offer. 
Truth: A seller is not bound to accept any offer, even at full price or above. A seller may choose to accept an offer because of other favorable terms, such as an earlier closing date.

Your Texas REALTOR® can help clear up confusion when it comes to buying a home.

From: Texas Association of REALTORS

Latest Blog Posts

What You Need To Know About The Mortgage Process

What You Need to Know About the Mortgage Process [INFOGRAPHIC]Some Highlights: Many buyers are purchasing homes with down payments as little as 3%. You may already qualify for a loan, even if

Read More

Homeownership Is The Top Contributor To Your Net Worth

Homeownership is the Top Contributor to Your Net WorthMany people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist 

Read More

Whats The Latest On Interest Rates

What’s the Latest on Interest Rates?Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for

Read More

Mid Year Housing Market Update Three Things To Know Today

Mid-Year Housing Market Update: Three Things to Know TodayShifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the

Read More