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The Services of a Good Realtor are invaluable in helping ensure the home buying process goes smoothly with minimal hassles and errors.
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Some Of The Common Mistakes You Certainly Can Avoid Are:
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- Not Having Representation:
The seller almost certainly has a Realtor looking after his or her best interests. You need to be represented by a Buyer's Agent and a good attorney during this process.
- Not Asking Enough Questions:
Truly there are no dumb questions. If you do not know or are unsure ask. (Even if you think you know the answer ask.) If your Realtor is not willing to
answer or obtain answers for all your questions from other professionals, get a new Realtor.
- Making An Emotional Decision:
You have your criteria, and you know what features you must have in a home.
Don't let curb appeal or the amenities cause you to overlook the quality of the construction, size, location, distance to work, etc.
- Looking For The Perfect House:
It doesn't exist, and if you built it, it still wouldn't exist,
so be reasonable. If the house meets most of your criteria and is appealing to you, it's time to move forward with an offer.
- Overbuying:
You know your financial situation, and what you are pre-approved to spend.
Don't become house poor by spending too much and not having sufficient funds for other needs and some fun times too.
- Thinking You Need 20% (Or More) Down:
20% down was at one time the required down payment. However, now financial institutions have great flexibility in service and loans. Loans of 95% or more are common.
- Skipping Inspections:
We strongly recommend a professional home inspection as well as wood destroying insect inspection. Depending upon the circumstances, a water test, radon inspection and perhaps structural inspections are wise. Talk with your Realtor about these inspections.
- Underestimating All Your Expenses:
There is more to buying a home than the purchase price. Your Realtor and financial institution can help estimate what your other
loan and closing costs should be.
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There are certainly more mistakes you could make,
But Remember #2: Ask questions of your Realtor and other professionals.
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