Hello potential homebuyers! Welcome to Burnley, a pretty market town in Lancashire that is both modern and charming. As a real estate agent who has lived here all their life, I’m excited to help you find a home in Burnley. Over the years, I’ve seen some estate agents use tactics that benefit them more than the buyer. This guide can help you spot these tricks and avoid them. With this guide, you can avoid common pitfalls and make buying a home in Burnley easier.
Beware if an agent tries to rush you into buying a home quickly, saying that other people want to buy the same property. This is a common trick some estate agents use to make you hurry. Buying a home is expensive and needs careful thought. Usually, there’s no need to rush.
Another trick is downplaying the value of an independent survey by stating it’s a waste of money. An independent survey can help you find any structural or hidden problems within the house. Similarly, be wary if an agent tries to persuade you to choose their preferred mortgage broker or conveyancing solicitor. While they may offer tempting reasons why, you’re not required to use their recommended services. The best thing to do is to do your own research, compare rates, and pick what fits your needs and budget.
Some agents use the ‘sealed bid’ trick to make the house price go up. In these cases, make a bid based on your budget and what your research says the house is worth, not what the competition is bidding. Also, be aware of agents’ fees. Some agents may not be very clear about this. Ask about fees before you agree to any services.
An agent might also hide important information about the house or the local area. Ask about the house’s history and any planned changes to the local area. There are also two tricks called ‘gazundering’ and ‘gazumping’. Gazundering is when a buyer lowers their offer at the last minute, and gazumping is when a seller agrees to a higher offer after agreeing to a different one.
Watch out for the ‘price quoting’ trick, where agents might make the house prices seem higher. Always double-check with other sources for property prices in Burnley. Some agents might not even pass on your offer to the seller or might try to increase your offer for their own benefit. If an agent does this, consider finding a different estate agent.
Buying a house is a big decision. A good estate agent can make the process easier. However, it’s important to be aware of the potential tricks, especially if you’re new to Burnley or home-buying. Remember – knowledge is power. Understand these tricks to avoid pressure and pitfalls when buying your dream home in Burnley. These tips can also help experienced buyers. Keep these insights in mind as you look for your perfect home in Burnley, and make your home-buying experience positive and memorable.