3 Ways a Real Estate Deal Can Go Wrong

3 Minute Read

The old saying, “Hindsight is 20/20,” can unfortunately ring true even in real estate. That home you fell in love with—the one with so much potential or that seemed like such a great deal—is sometimes revealed as a big mistake down the road.

Homeowners can often avoid those mistakes by working with a professional real estate agent. Here are three cases in which the right agent could (or did) save these homeowners a lot of heartache—and money.

When Emotions Steal the Show

You can never forget that buying a home is a business deal. But Tammy B. admits that when she and her family purchased a home without using an agent, they picked their new home on pure emotion since they had only three weeks to move.

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“We didn’t have a good real estate agent to give us good advice, so we overpaid for it by about $25,000,” she told us. Two years after they moved in, they had to sell the home at a loss because it didn’t fit their needs.

With such a short time frame to find a new home, Tammy and her family would have benefited from an agent’s access to available homes in their area. Working together, they could have identified homes that suited their needs. And, with the advice of their real estate pro, Tammy and her family’s offer on their new home would have been based on facts instead of feelings.

Feeling the Pressure

Anna V. and her husband did work with a real estate agent when they bought their home in 2005, but the agent took advantage of their trust.

“He pressured us into a mortgage with his wife’s company and found a home inspector that didn’t do his job. We ended up with a home that needed repairs in a neighborhood that wasn’t as nice as the agent had promised,” Anna said.

Her family moved in with her in-laws until a short sale was approved one year after they put the home on the market.

It’s your agent’s job to give you all the information you need to decide on a home and a price yourself—not to bully you into a certain home at a certain price. So any time you’re feeling pushed into a corner, raise a red flag.

Worth Another Try

Corey J. was in the middle of a home purchase when things simply fell apart. “The mortgage company stopped calling, the agent started trying to get us to spend more money, and we ended up losing the house and feeling jaded,” Corey said.

A year later, Cory tried again, and he admits his outlook was pretty negative. But he was surprised to find how quickly and easily the home-buying process could go with the help of the right agent.

“[Our agent] worked very hard to make sure we got what we wanted and that we were happy with the results,” Corey said. “I was amazed at how fast we were able to move and get everything done!”

You can find an awesome agent like Corey’s through Dave’s nationwide network of real estate Endorsed Local Providers (ELPs). Your ELP is an experienced professional in your local market who you can trust to give you excellent service and advice whether you’re buying or selling a home.

Have you ever experienced a real estate deal gone bad? Tell us your story.

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