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For Estate Planning, Estate Administration And Disputes

TV gives unrealistic expectations for real estate transactions

On Behalf of | Jun 28, 2018 | Real Estate Law |

Buying a new home can be an exciting time in a New York resident’s life. Of course, there are many aspects that go into home buying, like viewing homes, getting finances in order and a lot of paperwork. Some individuals may even watch a bit too much television and believe that real estate transactions will be a breeze.

Despite the way TV shows make it look, buying a home is a considerable ordeal. Because viewing homes, making offers, and agreeing to terms and renovations all take place over the course of a 30-minute or hour-long episode, many people may think that the process will move relatively quickly. That is not the case. In order to find the right home, individuals may have to view dozens of listings and face lengthy negotiations over contract terms.

When it comes to negotiations, TV can also be misleading. Some real estate shows have negotiations taking place with the agent on the phone with the sellers while buyers sip coffee nearby, but that type of scenario is not realistic. Typically, negotiations go through email and take much longer than television episodes allow.

Another aspect of real estate transactions that many shows leave out is the need for legal representation. Many New York homebuyers may not consider enlisting the help of an attorney because they already have a real estate agent. While agents can provide help, knowledgeable attorneys can ensure that contract terms are legal and work in the best interests of their clients, as well as help clients deal with any violations that may occur during the process.