by Michelle Neal, Buyer's Agent

In today's Buyer's Market, everyone seems to be looking for a "deal".  Many buyers are under the misconception that they are going to get a great home in top condition at a steal of a price.  Although this can occur once in a while, more often than not the deeper the discount on the property, the less pristine is its condition.

There are two main kinds of sellers in today's market.  The first is the private seller.  This person lives in the home as his or her primary residence, he may have raised his family there and he takes pride in the property.  Often, the private seller has already adjusted to the market by pricing it competitively against other homes in the neighborhood.

The other kind of selling situation occurs when the property is owned by the bank, an absentee seller or is HUD-owned.  These homes may offer a deeper discount, but they have often sat vacant, have been neglected or even mistreated.  Typically, these homes will need cosmetic work such as total carpet replacement, fresh paint, possible replacement of light fixtures, window treatments and appliances, etc.

It is important for buyers to clarify what they are looking for as far as a "deal".  They need to evaluate their true home-buying goals.  Today's buyers should make sure they are represented by a Realtor who is knowledgeable about replacement costs, effective in getting necessary inspections and estimates, and has a solid network of reputable vendors who can assist the buyer in truly maximizing this Buyer's Market.