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Monday, November 22, 2010

"The Unrealistic Buyer": Top 10 Signs

Unrealistic Sellers Meet Their Match

Their counterpart, the Unrealistic Seller, has received more ink and attention, but these days Unrealistic Buyers are just as numerous -- and intractable.

As a public service to would-be Home Sellers, herewith are my top ten signs that you may be dealing with an Unrealistic Buyer (any resemblance to real persons isn't purely coincidental) :

10. They're on their third Realtor -- or don't have one.

9. They've been looking for more than a year . . .

8. and have seen more than 30 homes, which they've all pronounced "grossly overpriced" (and otherwise deficient).

7. They've yet to make an offer on a home.

6. They've already made offers on more than four homes -- none of which has even elicited a (genuine) counter-offer.

5. If they actually receive a serious counter-offer, they refuse to work with it.

4. They know the minutiae of the Purchase Agreement and Addenda as well as their Realtor -- and are better at opening lockboxes.

3. They offer more than 15% below a well-priced home's asking price (see also, #6).

2. They have no discernible timetable or catalyst (new job, baby, expiring lease, etc.) for buying a home (see also, #9).

1. They let you know that they're thinking about getting their real estate license.

There!

Forewarned is forearmed (now read "Serious Buyers: Top 10 Signs" to contrast with the foregoing).

P.S.: Sign #11: they'll only agree to buy something for 20% or more below market . . . if they can sell their current home for 20% above market.

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