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Buyers are making sure they get their money´s worth and then some PDF Print E-mail
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Written by Becky   
Tuesday, 02 September 2008

Before the market crash, sellers held all the power. There were plenty of buyers so the sellers could pick and choose: who would pay the most, with the least amount of concessions on the seller´s part. John Sullivan, a Washington D.C. Realtor and president elect of the NA of Exclusive Buyer´s Agents, said that before the crash, "buyers usually accepted the property as-is, and we even occasionally offered to pay the seller's state and county transfer taxes,".

Now the buyers are turning the tables. They know that the sellers are desperate to sell and are using this knowledge to their advantage. Mike Byrd, a Realtor with SLO Home Store in CA, says, "'Now it's my turn,' is the attitude,...Some buyers are really putting the screws on."

In CA, sellers are having to pay the closing costs, and in New England, the buyers want the heating oil tank filled before buying. Many buyers all over the states are also requesting a one year warranty home service contract on all the appliances in the home. They are also adding the amount of clauses put into the contracts. Benjamin Clark, a Realtor in UT with Homebuyer Representation, says that "Some of these items include availability of high speed Internet, cost and availability of homeowners insurance,...They cover environmental aspects of the home and neighborhood, as well as local services and amenities." They are also having numerous house inspectors instead of the past tradition of just one.

Don Plourde, a Coldwell Banker broker in ME, said that "We're finding that buyers make an offer and if it's not accepted, they just go on to the next seller,". With the market showing little signs of a change, the cards may be in the buyers´ favor for a long time to come.

 
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