Whether you are selling your home or buying, especially for the first time, there are generally some assumptions that come into play. Sellers often think that the value of their home is whatever the appraiser says it is. Buyers can assume that they cannot purchase a home without putting twenty percent down. However, these assumptions just aren’t the case. Here’s a brief list from Lemont IL Realtor Chris Budz of common misconceptions when it comes to real estate.
Open Houses Don’t Sell
Given the way that the Internet has revolutionized the real estate market it can be assumed that a real estate agent just isn’t needed. One of the primary benefits of a Realtor in the past was having access to listing information. Without a real estate agent, the amount of information available to you was limited. This just is not the case today. Online real estate resources abound enabling you to acquire almost anything you need. Whether it be listings, mortgage calculators, etc., it can be found. The secret behind this misconception is that you need a Lemont IL real estate agent for much more than information. Buying a home is a complex process with many intricate steps. There is a complete language to learn and many costly mistakes that can be made. The reason to hire a real estate agent in Lemont IL is to walk through the buying process with ease and to save money along the way. For help buying your next home contact Lemont IL Realtor Chris Budz.
The Appraiser’s Final Word
Another assumption made in real estate is that the value given your home by the appraiser is its true value. This is not always the case. There are a few factors to consider here. There are things that can affect the value of your home other than the home itself. For example, the view provided by the location of the home, various fixtures, or finishes can play a role. The fact is that many appraisals give a value that is below the market value. As a Lemont IL real estate agent it is clear that the price of a home is somewhat relative. The seller can price their home at a point a buyer is willing to pay that may or may not be the same as an appraisal.
Open Houses Don’t Sell a Home Anymore
This just isn’t the case. Despite online pictures and virtual tours, buyers still want to visit a home. There’s nothing like actually being there. Helping sellers as a Lemont IL Realtor includes open houses. Now, having said that, it is good and useful to use online resources. However, they don’t need to replace open houses.
You Need a Large Down Payment
It is definitely beneficial to put down as much as you can on your home. Twenty percent is ideal. However, most buyers cannot afford this. Fortunately, there are many options to help home buyers with the down payment. You can get a home with even three percent down in some cases. For help, contact your local real estate agent. If you are in or around Lemont IL, contact Lemont IL real estate agent Chris Budz today for all your real estate needs.