Thursday, May 28, 2009

First Time Buyers and Terms We Use

New first time buyers have a difficult time with all the terms we throw at them. We get so use to dealing with the terms, they become everyday vocabulary to us but to them it is a foreign language. Step back some and remember when you were learning real estate, how many times you had to get the dictionary out to better understand what you were reading. Not only that but we still find ourselves having to learn new terms, so lets have patients with buyers and take the time to elaborate on the definition of some term that is new to them.
Between what we give them to digest, loan broker or bank throws at them, escrow papers up the yig/yag, title papers that are hard for a pro to get tough, inspection and appraisal, it is a wonder that a house ever gets sold. What would happen if we took all the papers that it takes to sell and close a house and put them in front of the buyer when they were putting in the offer? Do you think they would run from us? I'd bet on half of them running for sure and some going "HOLY COW", you have to be kidding!
Maybe that's why escrow takes 30 days or more, so we can ease them though it.
Have a great day and remember we are teaching the world about real estate!

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