Washington, DC (PRWEB) April 11, 2005
1. Beware Open Houses and Yard Signs
Buyers don't realize that when they walk in an open house or call the number on a yard sign they are talking to the seller's agent, don't reveal any confidential information
2. Know Who Your Agent is Working For
Some agents call themselves buyer's agents but work at firms that sell/list homes and also represent sellers causing conflicting loyalties on price and terms. Ask if they ever represent sellers, a true exclusive buyers agent does not. Find a certified agent who never represents sellers at naeba.com. (prof. assoc.) or call 800-986-2322.
3. Beware Sophisticated Sellers
Sellers today are hiring companies to stage their homes for sale. It is a cottage industry specializing in fooling buyers. They make rooms look larger by removing furniture; hide smoke, and pet odors by cooking sweet smelling foods, etc. Many defects could be hidden unless the buyer is aware of the staging.
4. Be Careful with "One Stop Shops"
If your real estate agent recommends an in-house group of partners (lender, title company, inspector), make sure they are really giving you the best deal. Ask if they are getting a referral fee and don't be afraid to choose someone else who is not their in house partner.
5. Internet Lenders and Interest Only Loans
There are a number of predatory lenders on the internet buyers should be careful of deals that sound too good to be true. Also, many loans that are at an unbelievable 1-2% points are loans which are interest only. You will not gain any equity in your home.
Please consider attending Press Conference on Consumer Protection & Home Buyer followed by Panel Discussion in Washington, St. Regis Hotel 10:15 am (16th & K) Tuesday, April 12th
We would be happy to assist with any feature articles on above issues 603-670-8470. NAEBA is a professional organization of real estate agents dedicated to protecting and educating.
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