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October 21, 2013

10 Things Your Realtor May Not Tell You

Filed under: Center City Real Estate,For Buyers,For Sellers — Center City Philadelphia Real Estate Agent @ 10:27 am
1) Your condo isn’t available for financing. Falls outside the perimeters on what mortgage companies will loan. This is a problem for non-condo specific agents sometimes. Could be a HUGE waste of time to find a buyer, only to find out no one will lend on it after you’ve had it under contract, and off the market for 2 months.
2) If your Realtor sells you a Philadelphia condo, and he is not happy with the commish $$ being paid, he may ask you (you being a buyer) to help compensate him. Total BS if you ask me. Once saw a co-op agent do this- I thought he was moron for asking his buyer to do such a thing.
3) YOU choose your mortgage, title, and your home inspector. Sure, I kinda’ push people to the vendors I trust- but in the end, it is your call. No Realtor should ever dictate which providers you MUST use during the deal.
4) Your condo could actually sell for a lot more if you did some minimal work- like decluttering, cleaning, shopping at say Ikea for some groovy wall art, hiding your family photos, and spending about $1000 to get your condo ready for the market. Basic home selling 101 stuff -which is easy to do. And I can and will help. Call me if you want me to see and make suggestions.
5) Open Houses aren’t really to sell your condo- they are for the Realtor to pick up new buyers. Almost always.
6) They may cut the commissions on the sale of your condo IF you buy another home from them.
7) Print advertising probably won’t sell your Center City condo- But a video, professional photography, and good social marketing may go a lot farther these days.
8) The condo is inside a building with a really sh*tty reputation- and those units have a very difficult time selling. Or, the condo you want to buy has been on the market in excess of 1243 days. That might suck for you….
Ask, Ask, Ask!
9) The Tax Abatement is set to expire at the end of the year, which may (or may not) heavily impact your monthly costs.
10) Huge Upcoming Assessments are just around the corner- This one is hard to quantify- A good condo Realtor in town should know by the history of the building….NOT always, but should have an inkling or insight.
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