I hear it all the time. A buyer will come into my office and they would say in a rather boastful sly tone that they're looking for a deal. My question to them is always the same, and that is, do you know what you're asking for?
In real estate, there are so many moving parts to the terms and conditions of an agreement most people overlook the other details and head straight to the purchase price. The belief is that if they can buy the house cheaper then they win, the other party lose, and they get to own a home for less than retail. Score!
Well, this isn't necessarily the case. Sometimes, it's good to have the back and forth negotiation about price because the home is overpriced for that market. But other times, it's all about getting the hidden items in the deal that the common consumer isn't aware of. Maybe that's closing cost, repair cost, or perks in the deal such as blinds or some other added benefits.
The fact of the matter is that sometimes when you're looking for a "deal" you better know what you're getting yourself into. Here's why, usually "deals" mean more work and you need more cash to pay for that work.
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