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10 Deadly Mistakes Buyers Make |
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Making An Offer on a Home Without Being Prequalified Prequalification will make your life easier - so take the time to speak with a lender and decipher your purchasing power. A smart agent is going to ask for your prequalification letter prior to writing any offers on your behalf |
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Not Having a Home Inspection By a Certified Inspector Trying to save money in this market by not doing an inspection can cost you thousands. A good Realtor will strongl discourage ywaiving your right to inspection, going so far as to get you to sign an acknowledgment that they encouraged you to perform inspections. |
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Limiting your searh to Open Houses, Print ads or the internet When you are looking for you next home in a print publication or on the internet, the information you are looking at is out dated. If you want to stay on top of the market it is necessary to get your Realtor to send you the properties as they become available. Even in this market, the hot deals do go fast! Buyer Brokerage does not cost the buyer anything, and puts many liabilities on the Realtor. The Selling agent will pay your Buyer's Agent's commission! |
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Choosing a Real Estate agent who is not committed to forming a strong relationship with you. Making a connection with the right Realtor is crucial. Sometimes going with the biggest Realtor at the biggest company is not the best decision. If you want a more personal approach try an experienced broker at a smaller, local brokerage.Choose a broker who cares about your needs! |
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Thinking there is only one perfect home out there. Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so be open to all possibilities. Ask your Realtor for a Comparitive Market Analysis. This compares similar homes that have recently sold, or are still for sale. |
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Not Considering long-term needs. It is important to look ahead. Will this home suit your needs 3-5 years from now. Is this home a short term investment? Does your financing reflect your intention with the home? A Realtor can help you ask yourself these important questions and make sure your decision reflects your best interests. |
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Not Examining Insurance Issues Purchase adequate insurance. Advice from an insurance agent can provide you with answers to the questions you ma have. It is important to get a clear idea of what your insurance will run you and that it is taken into account in your home purchase budget. |
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Not Buying a home protection plan This is essentially a mini insurance policy that picks up where your home owner's insurance will leave off. Typically sold in 1 year increments, there are discounts available for more than 1 year, or new construction coverage, or duplex coverage etc. Talk to your Realtor to help you decide what coverage is best for you. *Oregon Real Estate Properties puts a Home Warranty on every listing, and will negotiate a warranty into every home purchase. |
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Not Researching Total Costs Involved Early in the buying process, ask your Realtor or lender for an estimate of closing costs. Title company and attorney fees should also be considered. Pre-pay responsibilites suc as Homeowner's Association feesand insurance must also be taken into account. Rememberto examine your settlement statement prior to closing. |
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Not Following Through On Due Dilligence. Buyers should make a list of any concerns they have relating to isses such as;
Ask the important questions before you make an offer on a home. Be diligent so that you can have confidence in your purchase decision. |
Oh By The Way, whenever you come across peop who are thinkng about buying or selling a home, I'd love to help them. So as these peole come to mind, just give me a call with their name and phone number. I'd be happy to follow up and take care of them.
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