Top 5 Mistakes Real Estate Buyers Make
Top 5 Mistakes Real Estate Buyers Make
Not Getting Pre-approved For A Loan Ahead Of Time
Not obtaining pre-approval for a loan ahead of time can be a costly mistake. Unless you’re paying in cash, it’s vital to get pre-approved by a reputable mortgage company. Listing agents often demand proof of qualification before considering offers.
Hesitating on Making an Offer
We understand that it can be a little daunting to make the biggest purchase of a lifetime. However, if you have found what you believe to be your dream home, we recommend making an offer as soon as possible.
Making A Lowball Offer
We all wish we could buy a million-dollar home for pennies on the dollar, but the truth is, it doesn’t happen very often. It may have happened at an auction when an investor paid cash for a foreclosed property.
Not Getting A Home Inspection
Some buyers skip getting a home inspection because the house “looked like it was in pretty good shape.” However, it is important to consider all aspects of the home, including the electrical wiring and circuits, water pressure, and flashing around the chimney.
Listening To Bad Advice
Sure, we understand. Your uncle may have sold real estate 25 years ago, but things have changed a lot since then. Title insurance is now a standard requirement for most home purchases, and it can protect you from financial loss if there are any title defects.