4 Deal Breakers for Any Real Estate Transaction
4 Deal-Breakers for Any Real Estate Transaction
There are many times it can be difficult to walk away from something that you want. Logic tells us that there is something not right, whereas emotion tells us to pursue. We have listed some potential hazards that can arise during a real estate transaction. If you find yourself in one of these scenarios and you are unsure of whether you want to proceed, you should seek Counselling.
- Large Closing Costs
Closing Costs on a real estate transaction should be appropriate. For example, during a mortgage transaction, you should be able to recoup the closing costs within 1-3 years as this is the industry standard. However, there may be higher closing costs for mortgage products that have higher risk factors. Closing costs vary depending on the type of work being completed. If it sounds unreasonable based on other competitors prices, it most likely could be. Be sure to shop around.
- Professional not Licensed or Insured
This may be hard to find out if the professional you are working with is licensed and/or insured. Many times if it is a large corporation they will have this put in place already. The local Home Professionals might not be however. This can cause problems if they are completing a job and they get injured on the job while on your property. Homeowners Consult only finds Home Professionals that are licensed and insured. You can rest assured that a Home Pro listed on HC is licensed and insured.
- Rude, Aggressive or Cynical Behavior
Not only will this make your entire experience irritable but could also lead to lack of care for your specific Real Estate needs. Many Home Professionals work long hours and weekends which can be tiresome. However, do not mistake this for an excuse to not act professional when working with you. This Real Estate transaction is about you, the client.
- No Follow Up or Communication
This one is hard sometimes, especially if you have any type of connection with the particular professional. Even though he might be a close friend or family member, there might be a better way to complete the Real Estate transaction. I have a recent example of this.
“One of my close friends referred a CPA to use for my taxes, I trusted his judgment because he was a good friend of mine. I reached out to the CPA to complete my tax returns for the year by calling this person months before my return was due. I did not get a phone call back. I called a week later and he answered. We spoke briefly and I sent over my tax returns. I never heard back from the CPA and to this day never received a confirmation email or anything. My friend did not have this same experience with this particular CPA. Even though I am sure that CPA is busy, this is the fastest way to not get future business with myself or with anyone that I know.”
Do not trap yourself into using a home professional that you may not like to work with. There are many Home Professionals out there that will treat you with respect and answer your questions. If you have any questions, feel free to reach out to the HC Team at any time. If we cannot answer the question, we will find someone that can.
As we like to say here at HC: Ask. Learn. Save.
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