Avoiding 7 Of The Most Often Real Estate Buying Mistakes

The process of home purchasing necessitates a sizable amount of knowledge. Your decision will be influenced by the numerous legal ramifications you have to be aware of, the financial possibilities and options as well as emotional choices you will make in the process of purchasing a home. In order to minimize the number of mistakes you will need to learn from other people's mistakes so that you will take the wisest decision for your personal needs. With this article we will try to offer you information about the 7 most popular mistakes among home buyers.

The remorse of the buyer - quite popular in this ever changing market. This situation occurs when the buyer changes his mind right in the last minute. The main cause behind this unfortunate situation is the lack of upfront preparation. Just hours prior to the home purchase, the buyer suddenly realizes that something is not right. In order to avoid this mistake, luckily, there are many resources available for potential home buyers. By using my services we will determine what you need and want in a new home.  We will search for homes that offers those amenities and view the homes you want.  You will have access to viewing these and 1,000's of more homes through emails from myself as well as my website here.  I will help you to avoid buyer remorse.

Overextension - as we said in the first paragraph, there are a lot of financial factors which should be taken into consideration. Foolishly extending the home buying finances will most likely lead to a lot of financial stress. By not having an extra secure income to furnish the brand new home or the covering costs involved for the maintenance of the house could be disastrous.  Together we will look over your finances and make sure that once you buy your home you are not what some of us call "house poor".

No representation or going solo - for those people that feel that they do not need a professional real estate representation, unfortunate situations will surely occur. The listing agent has a fiduciary duty to the seller to get them the highest possible price for the home and the best possible terms and conditions. A potential home buyer wants someone who negotiates on the behalf of the buyer and look at for the best interests. I offer buyer agency and will gladly sit down and go over with you the benefits of having an exclusive buyer agent to represent your best interests

Mortgage shopping - experts recommend interviewing at least 3-4 different lenders in order to obtain the best terms and the interest rates should not be the single deciding factor. If a specific lender offer the best rates but later "drops the ball" as they say, and the home does not close escrow as per the terms of the contract prior established, this could cost the buyer a fortune. It is also highly probable that the buyer will lose the home to another buyer. Customer service should also be a factor in the equation.  I have worked with many lenders over time and can help point you in the direction of one who will be able to best work with your situation if you don't already have one.

Pre-qualified and pre-approved - many of the buyers think that they have a solid image about the estimate price range that they can afford. They then preview a few homes and later on find out that they do not qualify for the price range that they calculated initially. This will mean that the buyer will reconsider the price range and the agent will show other homes, more affordable that will fit the budget. This unfortunate yet common situation will most likely diminish the excitement of the buyer. In today's market with all the short sales and bank-owned homes, it is obligatory for the buyer to be pre-qualified or pre-approved before writing a contract on a home. This mandatory requirement will only strengthen the buyers negotiating power.

The perfect home does not exist - many buyers look for the perfect house but later on find out that this is a utopia. Any home will have pros and cons and the balance between them will decide the final decision. Spending too much time for the right estate will be not only discouraging but also exhausting and can bring noticeable financial disadvantages.

Ignoring the process of home inspection - a regular home inspection is just $300 or so, a very wise investment when you take into consideration that a home can have a lot of hidden flaws.  Think smart and have an inspection on your future home, it can prove to be a total bust.

These are only 7 of the common problems that can occur when you are buying real estate.  Buying a home doesn't have to be scary, utilize my experience and guidance to help your purchase be a smooth transaction.  I would be happy to sit down with you and discuss your real estate purchase.  Please feel free to contact me at your convenience!