Massachusetts Real Estate Buyer tips - Dreamhomes, your Internet Realtor. Deadlines can be deadly, Hot markets don't stay hot forever, Don't falter in the negotiations, Answer promptly and with as much generosity as you can muster, Know when to throw in the towel. Internet ease with personalized service.

Buyer Tips 101

	Deadlines can be deadly
	Don't assume that the seller has to respond to your offer by your deadline. Deadlines are only important to the seller if s/he plans to either accept your offer or wants to keep the negotiations going. By the same token, if the seller counters your offer and gives you a deadline for accepting, and another offer comes in that is more attractive than yours, the seller can withdraw his/her counter offer to you in writing and accept the other offer.

	Don't falter in the negotiations Don't assume that because your seller is negotiating with you that s/he can't entertain other offers. All it takes is for one party to make a change that the other party doesn't accept and negotiations are over. In fact the seller's agent is under no obligation to let your agent or you know if there are other contracts on the table or not. The seller may be waiting to see your best offer before accepting another offer that may already be on the table. Multiple offers are often used by sellers to improve upon the asking price or terms. The sellers agent may be instructed by the seller to ask the buyers to "submit improved offers." This is the time another offer can slip in and take your momentum away.

	Answer promptly and with as much generosity as you can muster. Don't nickel and dime the seller with requests for small repairs, or complicate the contract with contingencies. Just ask for a repair allowance and take care of the problems yourself. Buy yourself some peace of mind with a home warranty if the seller isn't willing to purchase one.

	Hot markets don't stay hot forever Hot markets may be hot for a while, but there may come a time when they will cool. The home you are so anxious to get now may level off in value very shortly. Make sure that this is the home you want no matter what the market conditions say. The home's history may be helpful here. Ask your agent to provide you with the home's history or a history of comparables in the area. The CMA report is generated from MLS information and should include historical data going back at lease five to ten years or more. If a home has been sold several times in the last few years, the history can tell you why and how much was gained or lost by the sellers involved. Also look at the affordability of the home. Are the extra considerations you are offering to stay in the contract really worth it? Do they price the home out of your range? Will you be able to afford the other costs associated with move-in such as furniture and updates? Does the CMA support the kinds of changes you may want to make in the home over and above what you are willing to pay to get into it?

	Know when to throw in the towel There may come in a time when it is wise to simply give up and move on to another home. Some sellers, in a multiple offer frenzy, will simply make unreasonable demands. Some will even demand offers beyond those which can be justified by comparables or local lender guidelines. Lenders have a ceiling on what they will lend on homes in a given area and it can be broken down by square foot, age, history, and other factors. This ceiling is based on an appraisal formulated from CMA information, tax roll data, and gut instinct. If the comparables don't justify the price, the lender may refuse to take a chance on being the first to raise the loan limits on a certain neighborhood or home. You might as well throw in the towel. Sometimes a lender's refusal can be the kick in the pants a seller needs, however, and s/he may agree to your price when confronted by the voice of reality. The best way to position yourself as the buyer whose offer is accepted is to work closely with an agent who can help you step by step.

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