If you are thinking of buying a resale home, be prepared to spend a lot of time shopping resales that need renovation and/or heavy on deferred maintenance.

Orlando Realtor Kathy Llamas showed short sales to a couple for almost two months and was about to lose them to a 'we decided to wait' excuse. They kept seeing homes they liked, but could not afford after remodeling or renovation estimates were proposed.

For example if they looked at home for $300,000 and the renovation estimate came in at $60,000, the $360,000 price was too hgh either in fact based on a mortgage approval or their budget.

At the suggestion of a Realtor friend, she suggested she show her prospects a new home model, so they could actually see, feel and touch what they could get for $300,000. They looked at two new homes, bought one in two days, and closed in 30 days. 

So, my advice: Tell your Realtor that while you are interested in shopping resales, you would like to see at least one new home in the price range of the resales you will be shopping. You may find that after seeing the new home, you prefer the location of the resale and have more confidence in the offer you marking or the cost of the renovation.