SIX MISTAKES MADE BY BUYERS… AND HOW TO AVOID THEM!

1. NOT BEING FULLY APPROVED FOR A HOME LOAN. This costs $75 or less and is credited towards any closing costs you pay to obtain your home loan. It is critical to be pre-approved for a loan when you and another buyer want the same house. Sellers will look at your offer more seriously and feel "more comfortable" with a pre-approved buyer. Being pre-approved carries a lot of weight in the negotiation process.
2. BUYING A HOME. You want to be sure you are being property represented. It is again critical to be represented by a professional agent that works 24 / 7 and will be looking out for your best interest 100% of the time. Choosing the wrong agent by getting caught up in "the moment" can cost you thousand of dollars. The seller always pays the buyer agent fees.
3. NOT MAKING YOUR PURCHASE SUBJECT UPON INSPECTION. In most instances hiring an independent inspector can be well worth the $250-$350 fee they charge. We know numerous examples where the inspector has found major problems with the home; you will also learn everything that’s right with the home.
4. PAYING TOO MUCH FOR A HOME. There is not an exact science to pricing a home. A home is only worth what a buyer is willing to pay for it, if exposed on the open market. Ask your agent to prepare a Market Analysis on the property your interested in buying. This will show what price similar homes have sold for.
5. BUYING THE WRONG HOME FOR ALL THE WRONG REASONS. Whether you build your new home or buy a pre-owned home, always think re-sale. Many sellers go to sell their home 5-10 years later and find out they have a very difficult home to sell, some even lose money after 10 years! Your agent can help you in determining the resale potential of the home you are thinking about buying. Think of a home as the great investment potential, not just a place to live. It’s not cheap to sell a home, buy something that will go up in value and be easy to sell in the future.
6. NOT CHOOSING THE BEST WAY TO FINANCE YOUR NEW HOME. This mistake could cost you thousands of dollars. There are over 80 different ways to finance a home, many agents use only 3-4. Find an agent that will work hard to find you the best house in a quiet area, for the lowest price with a home loan that’s best for you.