The Most Common Frustrations Buyers Have When Purchasing a Property
There are several frustrations that buyers commonly experience when purchasing a property which include:
Limited Listings/Stock Levels:
One of the most common frustrations for buyers is limited listings. In a competitive market, there may be few properties available that meet the buyer's criteria, leading to a longer search process and potentially settling for a property that isn't their first choice.
Bidding Wars:
Another frustration for buyers is the prevalence of bidding wars. When there are multiple offers on a property, buyers may feel pressured to offer more than they had planned, which can result in overpaying for the property.
Delays and Obstacles in the Buying Process:
The buying process can be complex, and there may be delays or obstacles along the way, such as issues with financing, inspections, or settling. These delays can be frustrating for buyers, especially if they have already invested time and money into the process.
Hidden Costs and Fees:
Buyers may be surprised by the additional costs and fees associated with purchasing a property, such as settling costs, property taxes, and home insurance. These costs can add up quickly and may not be fully understood by the buyer.
Property Condition:
After closing on a property, buyers may discover issues with the property that were not disclosed during the buying process. This can be frustrating, as it can result in unexpected expenses and repairs.
The big Elephant in the room and one a lot of buyers always come back with is you guessed it, Real Estate Agents.
It is not uncommon to find when searching for a property that the price guide is well under what the actual market valuation of the property should be (this is underquoting), the listed price or price guide is well above the property value (this is overquoting). Other common gripes we hear are; the agent never gets back to us, they're not flexible with viewing times as we can't always inspect the property at the times they have each week for open homes.
Overall, the home buying process can be a frustrating and stressful experience, particularly in a competitive market.
However, working with a trusted Buyers Agent/Real Estate agent and being aware of these common frustrations can help buyers navigate the process more smoothly.
https://www.propertymavens.com.au/.../property-buyers-guide
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