Buyers need to dig for information

Buyers should snoop before bidding on house

Learn why sellers are selling, if they have deadline, what they paid, what inspections they’ve had done

These days, the home buyer is king.

That’s because in most markets, there is an oversupply of new and resale homes available. Just ask any real estate agent for the “number of days on market,” and you will discover home listings languish much longer than a year ago.

No truer words were ever spoken. Buyers need to gain leverage. You do that by learning about the seller - why is he selling? Does he have a deadline? How much the seller pay and when did he buy? If you don’t ask the questions then you’ll be negotiating in the dark.

Here’s a short list of information to dig for:

Why is the seller selling?

What did the seller pay?

What is the seller’s deadline to sell?

What inspections has the seller had performed?

One more thing - ask your agent to conduct a comparative market analysis.

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