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4 real estate myths debunked
For the average person , real estate can seem complex and overwhelming . To help demystify this industry , here are four common misconceptions explained .
1 . You need a 20 percent down payment to purchase a home Although having enough money to put 20 percent down on a home purchase is great , it ’ s not absolutely necessary . In America , the average down payment is between six and 12 percent . There are also loan programs such as FHA mortgages that only require 3.5 percent down .
2 . Listing your home at a higher price always leaves room for negotiation When the real estate market is hot , many sellers believe that listing their home above its true market value will get them the best price . However , this strategy doesn ’ t always work . Instead , buyers may be turned off by the price and avoid making offers or booking showings altogether .
3 . Spring is the best time to sell your home Although spring is one of the busiest seasons for home sales , it ’ s not necessarily the best . Putting your home up for sale during a slower time like fall or winter could allow you to secure a better price and expedite the sale .
4 . Selling your home without an agent will save you money Many sellers attempt to sell their homes privately instead of hiring an agent to save on commission costs . However , selling your home isn ’ t as simple as putting a sign in your front yard . Hiring a real estate agent will ensure you price your home correctly , negotiate the best offer and protect yourself from potential pitfalls .
If you need help buying or selling your property , do your research and find a real estate agent in your area that meets your needs . Every agent has different skills , experience levels and areas of expertise . n
Judy Burnham
ASSOCIATE BROKER Moultrie Board of Realtors Lifetime Member & Multi Million Dollar Producer Residential • Commercial Properties Buying • Selling • Listing Bus .: ( 229 ) 985-1145 • Cell : ( 229 ) 589-0758 709 South Main Street • Moultrie , GA31768 jwburnham @ gmail . com | www . mattcorealtors . com
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