I had just purchased my first home. I was giddy. Proud. And a fool.
Shortly after moving in I found out that I had paid $7,000 more than my neighbour had paid!
Market fluctuation, right?
He had purchased only a few weeks before me?! Our newly built townhouses were built the same year, and had the same finishes. I was furious!
The difference? He had a Realtor.
Having a Realtor is Important…apparently
When I purchased my home, I didn’t know that you need a Realtor. There was already one on the “For Sale” sign on the lawn, so I simply called the number and met them at the show home.
I loved it! Decided right there that I wanted it.
I didn’t really think about price. I figured the builder was setting the price at what it should be, a fair market value. I had no idea what “fair market value” meant, or how one goes about figuring it out. I also didn’t know about negotiating.
What I did know, is that I was pre-approved for a mortgage – for the amount they were asking – so I bought it!