The Five Dumbest Mistakes

SMART PURCHASERS MAKE WHEN BUYING THEIR HOME
... AND HOW TO AVOID THEM!


1. FAILING TO USE THE SERVICES OF A PROFESSIONAL REALTOR...

Many times, buyers avoid using the services of a Realtor under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's agent. This can be an expensive mistake.

If you are negotiating directly with the seller or seller's agent, you many not be taking advantage of the best deal available in the market place today! You can have your own Realtor, a Buyer Broker or Purchaser's Agent, who is committed to using the experience gained through hundreds of successful negotiations for your benefit - AT NO CHARGE TO YOU! Your agent can be paid from the same commission that the seller's agent is paid from - by the seller.

2. NOT KNOWING WHO THE AGENT IS REALLY WORKING FOR...

It is important for buyers to know and understand for whom the agent helping with the house hunting is actually working. The agent may be working as a sub agent, representing your best interests during negotiations. If you are not sure who your agent is working for - ask for clarification. Your Realtor must fully explain agency. When negotiations commence, wouldn't you want to know whether information that you divulge will be used for the seller's benefit - or your's?

3. FAILING TO HAVE THE HOME INSPECTED BY COMPETENT HOME INSPECTION COMPANY....

Buying a home is a major purchase, usually made after spending just half an hour looking at the home. Isn't it worth ensuring you will not be surprised later with deficiencies costing thousands of dollars? Your Realtor can recommend several reputable companies for you to choose from, and will ensure the appropriate clause is inserted in your offer.

4. NOT KNOWING AND UNDERSTANDING YOUR RIGHTS AND OBLIGATIONS SET OUT IN THE OFFER TO PURCHASE...

It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses, and not understanding how the clauses affect the purchase, can lead to increased costs or a void contract. An experienced Realtor can thoroughly explain the agreement to you and help you to fulfill your contractual obligations.

5. FAILING TO TAKE THE STEPS TO BE FINANCIALLY PRE-QUALIFIED, AND HAVING AN INTEREST RATE GUARANTEE BEFORE LOOKING AT HOMES...

Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Having an interest rate guarantee will protect you in times of fluctuating rates and ensure that you initial projected charges. An experienced Realtor can help you initiate this process and can also recommend alternative sources of financing.