Sunday, April 12, 2009

Do You Want To Meet the Seller?

There are many little lines drawn within the real estate business. Realtors understand these lines and often are the best way to contact a buyer or seller about a certain property.

Many homes sell without the buyer meeting the seller until the closing. But it isn't uncommon for buyers and sellerst ot meet each other. This is especially true in areas where there is a high volume of for sale by owners. They become acquaintances. It is often nice to know the person purchasing your beloved home.

The key to the meeting, whether you are a buyer or seller, is to keep everything flattering and lovely. Talk only about the things you adore about the property. If you are planning on remodeling, don't tell the current owner, it may offend him or her.

In fact, being personal can often get your offer accepted when mulitple offers are on the table. For example, one set of buyers wrote the sellers a letter about their love of the decor of the living room. They then sent flowers that matched the decor of the room perfectly. The sellers saw that the buyers wanted the house, appreciated the efforts made to the home and that the buyers demonstrated the desire to continue to make it a lovely home.

But being too open and friendly can blow a deal. For example, one couple went over to the home and introduced themselves to the owners about a week before the closing on the transaction. They chatted and spoke for a while about the area and the home. The sellers asked what the buyers were going to do when they moved in. The buyers answered that they were going to tear out the stair railing, fireplace surround and wainscotting from the house and replace it with something more modern.

Little did they know that the sellers had hand restored the home to its original condition using old photographs and research materials.

The buyers called their agent and backed out of the deal immediately.

The moral of the story -- if you meet the seller, keep the things you don't like to yourself. You should ask questions, but don't offer any answers. Talk about what you love about the house and don't try to offend the seller.

After all, there has to be a reason you are buying the house. Find it.

Martin Lukac represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate and mortgage rates. We specialize in daily updates, mortgage news, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

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