Delusional Home Buyers

Trying to get the best value for your dollar is great. Maximizing return on your investment is always the way to go with Real Estate. But doing some reality check would not hurt either. Where is that edge that keeps a home buyer from becoming optimistically delusional?

Delusional Home Buyers

I got a phone call on a weekend from a first time home buyer:

– I need to get a condo south of Lakeshore, do you have anything available?

– Yes, I do. There are a few condo appartments and some condo townhouses available for sale in Long Branch. What specifically are you looking for?

– I need something new, don't want to do renovations…I need a minimum of 2 bedrooms, 2 bathrooms, parking. No co-op apartments.

– Sure, there are a couple of options I could offer. What type of budget do you have for your purchase?

– Well, it has to be under 100k.

– Just to give you an idea – 2 bed/2 bath in Long Branch are starting from 325K. Well, except for co-op. You could get a nice renovated co-op appartment for just under 200K.

– No, no co-op for sure. Could we at least look for something under 100K? I did not get pre-approved for the mortgage yet but I have a good downpayment.

– Good downpayment will certainly help. May I ask what is it?

– Yes, I plan to put $2000 down. My other agent I am working with said it should be enough.

– Oh, you are already working with an agent?

– Yes, but I don't like him – it's been almost 3 weeks and he hasn't found me a home yet…..

At this point I had to politely wrap up our converstion as I was not sure whether to laught or cry… And I still haven't decided….
Would anyone know why the other agent haven't found a home for this client yet?

Compliments of Marina Gavrylyuk
Real Estate Agent with Sutton Group Summit Realty

www.MarinaG.ca

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