Do not buy all new furniture before you close escrow!

10/17/2010

What is a sure fire way for a buyer to submarine their purchase? Lowball the seller's price? Submit a 3 page laundry list of repairsfor the seller? No! It's going on an Imedla Marcos shopping spree! If you are in contract with your new house, avoid any huge purchases before you close! You might disrupt your debt-to-income ratio & blow your deal! Hold off onengagement rings, cars, big appliances until AFTER you get your keys!

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7 Comments

Robert Wang

10/17/2010 10:53

HEY BUD, I HAVE A BUYER NOW WHO IS ABOUT TO CLOSE ESCROW IN 2 WEEKS AND WANTS TO BUY A CAR FOR HIS WIFE FOR HER BIRTHDAY. I'VE BEEN TELLING HIM TO WAIT. I WILL SEND HIM YOUR VIDEO AS PART OF MY CAMPAIGN

THX!

John Robinson link

10/17/2010 13:06

Herman: I need your help. I've had 3 customers last week who found exactly what they were looking for but are electing to "wait". I need help in guiding them to move forward with an offer!!!

herman link

10/17/2010 19:39

hey john! congrats on having 3 buyers on the verge of buying. you are already ahead of the game, compared to most agents out there.

as for how to get these ppl to pull the trigger, i think one needs to find out what is causing their trepidation. buyers on the fence sometimes have legitimate reasons for waiting , but often times just need a little explaining

why are they electing to wait? if have concerns about the condition of the house, stress the fact they can investigate as much as they want during the inspection period. if it's about value, run comps for them, or show trend analysis. if they think renting will be cheaper, then do a rent vs own chart. if they have a pressing deadline, underscore inventory decreases as the holidays hit. If all else fails, oh my god, emphasize the rates are at RECORD lows since the Eisenhower administration!

however, there are some things we just can't over come. like if they saw they are waiting b/c their company just filed bankruptcy, i would just not waste your breath. put them on the backburner til they stabilize.

Let me know how it all pans out! Does any one else have some advice?

xoxo
Herman

KW Realtor/Ken Webb link

10/17/2010 20:13

Good stuff bug boy. I get a kick. One thing I have learned is when someone (a buyer) finds a house that is perfect and they are well aware - and they decide to "wait" this is fine. Time to back burner and start working new leads. I would say that out my cue of buyers - there is at least 1 every month that when confronted with a great home - they decide to wait/ mostly for uncertain issues at work or they exaggerated their ability to purchase. It happens with my buyers at every level - 100,000 or 5,000,000. No worries,..just keep mind positive - and move onto your next one.

Buy email list link

06/19/2012 04:15

Great blog, just looking around some blogs, seems a pretty nice platform you are using. I'm currently using Wordpress for a few of my sites but looking to change one of them over to a platform similar to yours as a trial run.

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07/28/2012 10:08

Nice blog, just wanted to say I found you through Google

www.Showcasebuildersinc.com link

09/04/2012 02:26

Wow! I am really impressed by the way you detailed out everything. It is really going to help me a lot. Thanks for sharing your thoughts so clearly.

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Do not buy all new furniture before you close escrow!

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