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ADVANCED SEARCH
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ARIZONA PROPERTIES
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| :: Learn step-by-step home buying process with Kellson Team. Your knowledge is your Power! |
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| HOME BUYING >> DEALING WITH PROBLEMS |
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Our combined experiences in real estate, credit, financing, sales and negotiation are powerful tools to help you solve almost any undexpected proplems in your home buying process.
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SOLVE UNEXPECED PROBLEMS |
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Every home purchase hits a few snags. You'll have a much better chance of completing the sale on time if you're familiar with these common closing problems and how to resolve them.
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PROBLEM: The seller wants you to raise your offering price.
POSSIBLE SOLUTIONS:
- Raise the price if your comparative market analysis (CMA) warrants it.
- Raise the price if the seller agrees to cover a greater portion of the closing costs.
- Raise the price but ask ask for more.
PROBLEM: The appraisal indicates you're paying too much.
POSSIBLE SOLUTIONS:
- Review the appraisal for accuracy
- Use the low appraisal as a negotiating tool to bring down the seller's asking price.
- Fight the lowball appraisal to get the loan you need to close.
PROBLEM: The seller doesn't want to pay for needed repairs.
POSSIBLE SOLUTIONS
- Show the seller your appraisal and inspection reports to justify your request.
- Offer to pay for the repairs if the seller will reduce the sales price accordingly.
- Share repair costs (only if other alternatives don't work).
- Accept the home "as is" (only if other alternatives don't work).
PROBLEM: The seller needs more time before sale can close.
POSSIBLE SOLUTIONS:
- If you can't adjust your closing date, stick to the date you originally suggested but agree to rent the property back to the seller for a month or two after the sale closes.
POBLEM: The seller wants to close sooner than you do.
POSSIBLE SOLUTIONS:
- This is a common problem for buyers who must sell their current home to get the money needed to buy a new one. Explain your problem and the seller may agree to wait.
- Reduced the purchase price to compensate the costs for closing earlier.
- Ask seller to pay for closing costs and/or other seller contribution.
SOLUTIONS TO OTHER PROBLEMS:
- Walk away if you can.
- Be patient, if you still have time. You may be able to find a better deal.
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REAL ESTATE & COMMUNITY
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