Top 5 Myths of Real Estate

We often believe on things we hear and read then end up fooled by them. We hear myths about a land, myths on how to be thin the fastest way, myths about weddings, the list can go on. So today I went on and researched myths on real estates and found them very interesting. Here’s the top 5.

Myth # 1: A Home Doesn’t Need To Be Prepared For Sale

  • This is a No No. If you want to sell your place, you have to ensure that it is well maintained and in good condition. Otherwise, Buyers won’t buy them. Buyers expect a home where all the necessary items are working. They don’t want to move in and found out that the toilet’s not working or there’s no hot water on a winter day. Average buyers don’t want to expend more on something that should have been taken cared of. Agent’s will also have a hard time selling them. If it’s too costly to have these things repaired, you can suggest to share the expenses with the buyer and let your agent work their magic.

Myth # 2: Property law is complicated and terrifying

  • False. Yes there are rules and legal laws and regulations when buying and selling a property. And yes they can be complicated to understand if you are not an expert. That’s why legal experts are there for us. Agent’s will always refer you to an expert and a lawyer to help you understand the do’s and don’t and the legal matters of buying and selling a property. They won’t just allow you to dive in without a parachute. It is a must that you have to be informed and walk you through will all the legal stuff to avoid any complications during and after the transaction.

Myth # 3: All Real Estate Agents Make Boatloads of Money

  • No. If they are good and very generous clients then yes they will earn more. However, they are commission base. The money they get from the sell is still divided amongst the other agents, lawyers and other expenses. Basically the money they earned is just enough.

Myth # 4: Always change paint colors to neutrals before selling

  • Not likely. The buyer wont care for the color of the house because they will most definitely will paint it with their preferred colors, unless the buyer specifically requested to have the house paint with a different tone. It is still up to the buyer’s preference on what to paint the house. I would suggest to just make sure that the house paint are not cracked and look presentable.

Myth # 5: Never buy the biggest house on a street

  • False. If you have the money, then by all means buy the biggest house and if you don’t of course you need to be practical and buy the property that is within your budget. Bigger space are for people who have money to spend and have a huge family. However it is still up to you if you want a bigger space or not.

All in all I would say that, don’t believe on myths easily. Research, read and review before you buy a product or a property.  I hope that i was able to provide you new knowledge and insights for today. Till next time folks.

Sources and credits to:

 

 

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