Real Estate Fears - Be Gone

Being a real estate professional means that I have access to many different scenarios that may be of interest to others. Fear and anxiety are based on ‘the unknown’ and overthinking about ‘the unknown.’ Think about it, the last time you went for a job interview, what were you really scared of? At the basis of it all was the simple idea that you did not know what to expect, what questions you were going to be asked, who you were going to be speaking with, etc. Again, ‘the unknown.’ How did you do in that interview? Did you get harmed or embarrassed or did you get the job? Were you being shot at or were you being yelled at and treated badly in a language you did not understand fully? If you answered no, then you made it out alive, happy and successful. Now, ask yourself, “What the heck was I worried about again?”

Because having shelter is one of the top priorities for all human beings, according to just about every psychologist and sociologist, then you WILL someday have to face the very real possibility of buying and/or selling a property. Remember anxiety and fear are based on overthinking and not knowing, so this may help a little bit.

Top RE Fears:

Paperwork. Because buying and selling real estate is a HUGE ordeal then of course, you will have a great deal of paperwork to tend to. The paperwork that you are tending to is there to ensure that you are protected and gives you, the buyer or seller, the evidence you may need for the future. If there is a dispute about your shelter or the land it is sitting on, you will have the documentation for evidence or proof and anyone else must prove their position in a disagreement. The paperwork will be your CYA (Cover Your A**) and will be your security “blanky.”

Property Value. Property values are going to fluctuate with the market. As the market ebbs and flows like the tides of the oceans, the property values will be ever-changing. Imagine what would happen if you lived in a neighborhood that was a prime location near where the new Google facility is located. What will that do to the value of those properties and the many others in the area? Oh wait, that is currently taking place in Clarksville, TN. Hmm?!

Affordability. Are you really thinking that you cannot afford a house? Can you afford to pay rent in whatever you are currently living in? OK. Rent is usually what a mortgage note is plus maintenance fees plus a little extra for the owner just as “icing on the cake.” Now, let’s revisit the question. If you are paying rent which includes maintenance fees plus a little overage then you can afford your own mortgage for your own home. In my opinion, rent is getting to the point of being a little too much for most families to afford. There are positives and negatives to buying a home but that is a completely different article.

Negotiations. This is a touchy topic but the reality is, negotiations are not some type of game. What you are discussing is your life and the other side’s life. If you think that watching TV has taught you the best methods and strategies for negotiating, you may want to step back into the real world. What you get from watching TV are scripted discussions more than real negotiations. Negotiations equal give and take. If one side is giving too much and the other is taking too much then something is not working as it should.

Inspection(s). Home inspections are a very tense time for all parties and MUST be done. If anyone even hints that you can just skip the inspection because of whatever reason, RUN, don’t walk from that deal! I don’t care if someone says that they had their brother’s uncle’s cousin’s sister’s brother inspect the house, get your own inspection. Yes, it could have saved you a few hundred dollars at the start of your transaction but in the end, it could save you from buying a “money pit” and costing you thousands and more.

Appraisal. Like inspections, if you are financing your home then the appraisal is necessary. Banks and mortgage lenders will not lend money without knowing the value of the property.

These are just a few of the many different fears associated with buying and selling real estate. Think about it, if this is the most money you are ever going to spend on anything then don’t you deserve to know what the heck is going on whenever you think of something. If you are afraid to ask the questions necessary for your own sanity then you are doomed to live in misery until your house closes. Don’t allow yourself to have fear and anxiety of the unknown, ask questions! I am right here when you need me, 931-551-1861.

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