Free Report - Buyer Mistakes

With a little preparation, finding and purchasing your home can be a positive experience. But, if you stumble into some common pitfalls, the process can turn into a nightmare. This special report will help you avoid eight common mistakes buyers make.

1. Learn about financing
A little preparation goes a long way. Be a smart consumer. Learn financing basics before you start shopping. Explore your options. Ask questions. Know how to shop for a home loan that’s right for you.

And it’s always a good idea to get pre-approved by a lending institution. This simple step takes very little time and lets you know the price range that fits your lifestyle. Your offer on a home will be taken more seriously because you can submit a pre-approval letter with your offer. 

2. Buying on impulse
The last thing you need is to close a deal and realize you bought a house you don't want or like. Ask yourself what you're looking for in a home, before you shop. Think about size, commute time and necessary repairs.

3. Running up debt
I recommend you don't make any purchases on credit cards until after you close on your new home. Pay down credit cards and don't apply for new ones. Your lender will pull a last second credit report to be sure you have not borrowed any money or charged on a credit card.  Remember, financial institutions evaluate your financial situation on your gross monthly income. Your total monthly house costs shouldn’t exceed 28 percent of your gross monthly income.

4. Taking too much time
Sometimes homes sell quickly, so be ready to make fast decisions (this is why you prepare before you start your search). I am always available and you need to be accessible to change terms or react to importand negotiating terms. Instant communication can sometimes mean the difference between getting the home you want and losing it.

5. Submitting a weak offer
Sellers want a fair price, and they want to know a potential buyer is serious. Submit a strong offer and include a substantial earnest money deposit. Sometimes offers are accepted based on the amount of the deposit. Everyone wants a deal but sometimes trying to get too much off the list price will only make you offer not get accepted.  The goal in home buying is not always to get it for less than asking price.  If you love the property, making sure you get it is the goal, the appraisal will make sure you don't pay a penny more than what is it worth.

6. Being too picky
Fewer contingencies mean a stronger offer.  Don't expect to shop in a Seller's home.  It is not generally good form to try to get a seller to give up their favorite mirror for you to buy their home and they are not likely to give up the Corvette in the Garage either but..... everything is negotiable.

7. Neglecting the homework
Skipping a few easy steps in the buying process can be disastrous in the long run. Make sure you know what you’re getting – before you buy.

8. Change Jobs, It is not a good idea to change jobs just before you try to purchase a new home.  Banks want to see stability in your income and a new job will sometimes cause questions about stability.

9. I am an accredited Buyer's Representative, ABR, and have experience and specific training in representing buyers.  Always us an ABR designated Realtor that will represent you as a Buyer's Agent.

 

• I will coordinate for a professional building inspector and appraiser to ensure your new home is worth what you are offering and is in good structural condition. 

• Check zoning regulations and covenants. Good residential neighborhoods are zoned to keep out commercial and industrial users. Read any restrictive covenants; make sure they fit your lifestyle.

• Request an updated property survey. Be sure it clearly marks boundaries. Check for problems.

• Make sure you know what stays or goes.

• Your contract should be very specific about which items (appliances, etc) are included in the sale.

• Get agreements in writing. Make certain verbal agreements are written into the final contract to avoid any stressful and expensive issues later.

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