10 Mistakes Buyers Make
During a seller’s market, buyers have to be on their A-game. Here are the top 10 mistakes I see buyer’s make.
1. MAKING AN OFFER ON A HOME WITHOUT BEING PRE-APPROVED
Preapproval will make your life easier-so take the time to speak with a lender. Your situation will be different from anyone else, and your communication with a fantastic lender can make or break your financing.
2. NOT HAVING A HOME INSPECTION
Trying to save money today can end up costing you tomorrow. A qualified home inspector will detect issues that most buyers overlook.
3. LIMITING YOUR SEARCH TO OPEN HOUSES, ADS, OR THE INTERNET
Many homes listed in print ads or online have already been sold. Your best resource will be your Realtor and the NWMLS. They have up-to-date information that is unavailable to the general public.
4. CHOOSING A PART-TIME AGENT
Choose a professional who is dedicated to serving your needs before, during, and after the sale. You don't want to have to wait for your Realtor to get off work to go show you houses.
5. THINKING THERE IS ONLY ONE PERFECT HOUSE
Buying a home is a process of elimination, not selection. New properties arrive on the market daily, so keep an open mind.
6. NOT CONSIDERING LONG TERM
It's important to think ahead. Will the home suit your needs 3-5 years from now?
7. NOT EXAMINING INSURANCE ISSUES
Purchase adequate insurance. Advice from an insurance agent can provide you with answers to any concerns you may have.
8. NOT BUYING A HOME WARRANTY
This is essentially a mini insurance policy that usually lasts one year from the close of escrow. It can cover basic repairs you may need.
9. NOT KNOWING TOTAL COSTS INVOLVED
Early in the buying process, ask your lender for an estimate of closing costs. Title company and attorney fees should be considered. HOA fees, hold backs, etc.
10. NOT FOLLOWING THROUGH ON DUE DILIGENCE
Buyers should make a list of any concerns they have relating to issues such as; crime rates, schools, power lines, neighbors, etc. Be diligent so that you can have confidence in your purchase.
Are you ready to take the plunge and buy a home?
Are you contemplating selling your home in the Evergreen State but feeling uncertain about the financial implications? Navigating the true costs of selling your house in Washington can be more complex than you think. Let's demystify the process and delve into both the known and the often-unanticipated expenses that come with selling a property.