The Six Most Common Homebuyer Mistakes
Buying a home is a right that every American should have the opportunity to partake in. Planning to buy a home takes time, patience, savings, and did I mention savings! As a Realtor we run into these six homebuyer mistakes almost every week, so I wanted to pass these along to you as a means to educate. Remember, for twelve years, I was an elementary school teacher teaching little ones how to read, write, and add/subtract. Now as a Realtor, I get to work with big kids educating them on the pitfalls of buying and other mistakes that can cost you time, money, and the house of your dreams.
Buyers that don't use a Realtor. Going at it by yourself is dangerous and can result in a legal nightmare if you don't have all your papers signed, contingencies released, inspections ordered, etc... Why not use a Realtor? If you are a buyer in Iowa, our services are completely free, because the seller pays the commission.
Buyers don't ask enough questions and miss out on the best deal. This is self explanatory. Sit down with your Realtor and specifically go over what your needs are, what your wants are, and exactly what you are looking for. That way, when YOUR house comes along, you will know it!
Buyers don't act quickly enough to make a decision and someone else buys the house. This happens a lot. The basic rule of thumb is if you find a house with 70-80% of what you are looking for, grab it. The perfect house does not exist.
Buyers don't do enough to make their offer look good to a seller. Offer to pay for some services that a seller would normally pay. If you really want the house you are writing an offer on, pay asking price or even above. What is an extra thousand dollars at 6% over a 30 year Fixed Rate loan??? Answer: $6.00 per month. If you can afford that, bump up your price and make the offer as attractive as you can to the sellers.
Buyers try to act like killer negotiators. Trying to "win" by getting an extra low price may make you lose the home you love. Word to the wise; a house cannot be stolen; it can only be purchased, so don't low ball!
Buyers wait to get financing until they have found a home. I won't work with buyers until they are Pre-Qualified. This is your "ticket to buy" and if you don't have that piece of paper, you are likely to lose the house to someone who has their Pre-Qualification.