Full Financial Disclosure is Crucial in Home Buying
Are you worried about being totally honest with your agent regarding how much you can spend on your new home? Well let me assure you it is absolutely vital to be completely truthful with your Buyer’s Agent about how much home you can afford. In order for your agent to successfully provide the exceptional real estate services you deserve you must be straightforward and candid about your financial situation.
Your agent is working for you to locate and negotiate the best possible contract for the purchase of your new home. While your agent is searching listings to locate the houses most likely to meet your needs they will narrow the search field based on the features each property has to offer. “Price” is just as important as “three bedrooms”, “attached garage”, “corner lot”, or any other search criteria your agent will use when searching the MLS (Multiple Listing Service).
By overstating the amount you can afford you run the risk of touring and falling in love with a house you are not capable of purchasing. If you understate the amount you can afford, to avoid paying a premium price for a property, you might miss out on the perfect home because your agent ruled it out based on price. Under no circumstances will an agent concede to a higher purchase price based on their knowledge of your financial standing.
Finances can be an uncomfortable topic to discuss and people are often fearful that full disclosure may perhaps result in a “bad deal”, but nothing could be further from the truth. Your Buyer’s Agent will keep your financial information confidential and will negotiate to the utmost of their ability. Knowing your financial situation will never weaken the negotiation strategy. Full disclosure is the only way to guarantee your Buyer’s Agent is armed with the pertinent information essential to locate and negotiate the purchase of your new home!
Category: Buyers
Pingback: FSBONATIONWIDE.COM - How can I negotiate a brand new condo being built?()