5 Do's and Don't to Real Estate Purchases

1. DO: Put an inspection contingency clause into your offer.  After your inspection, you can legally end your agreement if the inspection does not pass to your satisfaction.  

2. DON'T: Give inaccurate numbers to your buyers. Give your absolute best estimate on after repair price and repair estimates.  If you play with those numbers to get a better deal you're only going to lose your reliable cash buyers. 

3. DO: Keep your buyer's list small.  Get a handful of very reliable buyers who are motivated and want volume, that will get you a fast answer, are able to pay top dollar, and build a relationship with them.  Make sure you both win in EVERY deal and they will keep buying. 

4: DON'T: Expect every deal to work out.  Some situations will cause your deal to fall through. And many offers that you make won't happen. 

5. DO: Take a rational and realistic approach to each deal.  Keep your head in the game, not your emotions.  You can end up convincing yourself a deal is good when it's really not. Look at actual, current comparables and use those number, don't make an estimation on what you think the marketing MIGHT do.