3 homebuying myths busted

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Red sign in the shape of a home with white arrow and white text: HOME FOR SALE

07/24/2015 | Author: Summer Mandell

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. Find one on texasrealestate.com.

Categories: Buyers, Renters
Tags: buyers, buying


Comments

David Davis on 07/28/2015

AVMs or other similar “estimates” are worth exactly what the end user pays for them!


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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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