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November 20, 2017

The Toughest Home Buyers You’ll Encounter

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The Toughest Home Buyers You’ll Encounter

Real estate professionals meet with a lot of different personalities in navigating complex transactions. Some home shoppers are a joy to work with, while others can make you want to scream. A recent realtor.com® article highlights some of the most difficult personalities you may encounter on the buy side, including:

Read more: 3 Ways a First-Time Home Buyer Can Drive You Nuts!

Serial lowballers

All buyers want to get a home at the absolute best price, but some take that too far. Rachel Foy, a real estate pro in Newton, Mass., recalls clients who wanted to place offers 20 percent below the asking price even when that tactic wasn’t justified. It was a tough lesson when the couple found a home they really loved, Foy recalls. They made an offer that was $150,000 below the asking price and the seller accepted another offer. “They cried that they could pay full price, even cash,” Foy says. But it was too late and they missed out on the home.

Complicated personal lives

Buyers who don’t have their personal affairs in order before their house hunt begins can make for a rough transaction—that is, if you can even make it to the contract phase. Joe Manausa, a real estate professional in Tallahassee, Fla., recalls working with a buyer whose boyfriend planned to give her $20,000 cash for the down payment so they could buy a home to live in together. But right before closing, Manausa received a call that the couple had broken up and that the woman was moving to Orlando instead.

Picky shoppers

Some buyers are just not practical in their house hunt. Julie McDonough, a real estate professional in Southern California, recalls working with buyers who had a very set criteria. They wanted a four-bedroom home, two bathrooms, two-car garage, no stairs, a small lot, and no pool. They also required a house that had never been occupied by any pets and was close to shopping, schools, and public transportation. McDonough says she showed the family many homes, and the buyers ended up choosing a home that was the complete opposite of the wish list they initially presented. “They found a two-story, three-bedroom, and one-bathroom home with a carport that sat on a large lot with a pool, pretty far from the nearest shopping center or school,” McDonough says.

Source: “Real Estate Agents Reveal the Toughest Home Buyers They’ve Ever Met,” realtor.com® (Sept. 11, 2017)