(412) 999-7612
  Southbound Enterprises LLC
  • Home
  • About Us & Meet Our Team
  • Contact Us
    • Testimonials
    • Legal and Disclosure Info
  • For Sale
    • Featured Listings
    • Spotlight Property
    • Address Search
    • Advanced Search
    • Map Search
    • Email Update Signup
  • Rentals
  • Property Management
  • Blog
  • Oil, Gas, and Minerals
  • We Buy Real Estate
  • Mortgage Calculator
  • Home Valuation

The Top Five Real Estate Myths Debunked

5/26/2017

3 Comments

 
When you tell people you plan on doing anything real estate-related, whether it's buying or selling a home, investing, or something else, it's likely you will receive unsolicited advice. Unfortunately, well-meaning advice from someone who isn't a real estate professional may not be helpful. That's where we come in. We're here to debunk the top five real estate myths. 
key in door

1. It's Fine to Skip the Inspection

Many homebuyers believe they can skip a home inspection to save money when buying a home. This is done for a variety of reasons, from wanting to save money, to thinking the house will be bought faster by another buyer who will waive the inspection, or because a property is new or recently renovated. 

A thorough home inspection is well worth the money spent. If buyers skip this important step, they will be buying a home as-is, including any problems that come with it. In the long run, getting a home inspection can save a lot of time and money. 

2. Financing is Figured Out After You Find Your Perfect Home

A lot of homebuyers believe that they don't have to get pre-approved for a mortgage until after they have found their home. Getting pre-approved for a mortgage before house hunting saves time and frustration.

​Buyers who decide to house hunt before getting pre-approved can be disappointed if they set their hearts on a home above their price range and are declined for a mortgage. A buyer who has been pre-approved also has an advantage in a multiple offer situation due to the fact that a seller is more likely to choose a buyer who is already pre-approved than one who isn't. 
signing contract

3. Selling a House "For Sale By Owner" Saves Money

Sellers who want to sell their home "for sale by owner" typically believe it will save them a lot of money because they don't have to hire a real estate agent. In reality, hiring a real estate agent can actually save sellers money. Real estate agents have experience in the industry, insider knowledge, and great negotiating skills. Utilizing the experience of a real estate professional is advised over the DIY method of selling a home "for sale by owner."

4. You Should Price Your Home to Leave Room for Negotitations

Pricing a home higher than it is worth in order to leave room for negotiations sounds like a good idea, but can leave a house sitting on the market for a long period of time. Correctly pricing a home is critical when trying to sell, as buyers generally won't waste their time on homes that are overpriced. A real estate agent can provide a market analysis, which helps sellers determine a price based on similar homes that have sold in the area.
Home with vines outside and bicycle

5. Real Estate Agents Can Only Show Their Own Companies Listings

Any real estate agent who belongs to their local real estate board and multiple listing service (MLS) has access to all listings that are multiple listed. An agent that works for one real estate agency can absolutely show properties that are listed by other real estate agencies. 

Have Any Questions?

If you have any questions about common real estate myths, or think we overlooked any, leave a comment in the comment section below! We would love to hear from you. 
3 Comments
Braden BIlls link
11/1/2017 09:34:29 am

I want to make sure that I get the right home. I didn't realize that financing is important before I even find the home I want! Maybe it would be a good idea for me to get a real estate agent to help me out with this.

Reply
Southbound Enterprises LLC link
11/7/2017 04:56:10 pm

Hi Braden,

Thanks for your comment. We are glad to know you learned something new! We wish you the best of luck in finding the right home!

Reply
Spencer Jordan link
10/14/2020 05:32:47 pm

It makes sense that a house priced too high is going to sit for a long time, not necessarily create a good offer for you. My sister is trying to find a new place soon that is much closer to her school. She wants to be able to walk or bike to campus so it needs to be really close.

Reply



Leave a Reply.

    Welcome

    Hello and welcome to the Southbound Enterprises Blog! Find out more about us and what we do here.

    Archives

    July 2022
    April 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    March 2020
    January 2020
    November 2019
    October 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    November 2018
    August 2018
    July 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017

    Categories

    All
    Pittsburgh
    Real Estate
    Southbound Enterprises

Picture

Contact Us | For Sale | For Rent | Blog | Property Management | Oil, Gas, and Minerals 

    Subscribe To Our Newsletter

Subscribe