Not Finding the Right REALTOR® for You:
Whether you're a seasoned buyer that has bought several homes or you're a first time home-buyer, purchasing a home is usually a time filled with a mixture of emotions.
During this particular season, I highly recommend that you align yourself with a REALTOR® that can oversee the process and guide you to avoid these (and many other) common buyer mistakes.
You'll want to work with someone that you connect with. Read their reviews to see what other clients have said about their experience. Contact the REALTOR® and if possible, ask to meet face-to-face. Discuss your moving plans and ask the agent to review the next steps in the buying process. The right agent for you will help you navigate the home buying process with ease and you'll likely avoid these common mistakes.
Not Having a Pre-Approval:
Many potential buyers start the home search process by viewing homes online and visiting open houses. The question arises though of what to do next if you find the home you love? Your agent should be able to recommend some trusted loan officers or you can simply go to your local bank to discuss the next steps in the pre-approval process. Having a pre-approval is a necessity for your agent to schedule showing appointments for homes and also is required if you decide to write an offer on a particular property.
Not Knowing the Costs:
- Closing costs are the costs incurred throughout the transaction process (such as inspections) as well as the costs for your loan and additional closing fees usually paid at settlement. Your loan officer should be working closely with your REALTOR® to assure that your estimated closing cost sheet is updated accordingly to accurately reflect the specific home of interest. The taxes, home-owner association fees and price of the home are all important factors in the estimated closing costs.
- Estimated monthly expenses to live in the home (this should factor in the estimated utility expenses, homeowners assocation fees, etc...)
Not Understanding the Importance of Inspections:
An agent that has your best interest at heart will likely discuss with you the contingency options that can be built into your sales agreement. These include inspections such as:
home inspection, wood infestation inspection, water inspection, septic inspection, radon inspection, etc. This is the time to do your due diligence and uncover unknown issues with the home so you can make an informed decision. Your agent will be there to help you better understand the inspection reports and can guide you during this season, specifically if repairs are required.
Not looking into Homeowners Insurance Costs:
Once you've found a home and opted to write an offer, your agent will likely elect a contingency that provides you the opportunity to contact your homeowners insurance agent to determine if the home is in a high risk flood zone and to get a homeowners insurance quote.
The home buying process includes many aspects and having a REALTOR® by your side to walk you through each important step in the process is always in your best interest!
Are you 'thinking about buying a home?'
Contact me today to discuss your moving plans. Whether you're moving across the street or across the country, I can help! www.mariasapio.com