{Mistakes Buyers Are Making Right Now}

What are some of the common home buying mistakes? Today, I'm answering questions I've received from home buyers.

Let’s get right to it:

What are KEY TERMS of the home purchase contract that could cost you thousands if not negotiated correctly?

We all know it’s common for sellers to be asked to pay closing costs, so keep this in mind. Let’s say you want to buy a home that’s listed at $300,000 with an offer of $290,000. If you want the seller to cover those closing costs, which could be up to $3,000 or more, you may need to increase your offer price. When it comes to your mortgage, a difference of $3,000 isn’t huge, only increasing your monthly payment a few dollars. Whereas, paying the $3000 at closing would be considered cash that comes immediately out of your pocket.

I’m not suggesting you have to pay full price just to get your closing costs covered, however a few thousand dollars added to your mortgage vs. a few thousand more in cash is something to think about. It’s smarter for you as a buyer to keep that cash in your bank account! If you can have those funds set aside for a rainy day, you’ll be happy to have it when something inevitably goes wrong in your home.

What does your agent do to protect buyers against these common pitfalls and mistakes?

First, I make sure you get the best financing options possible. There are a lot of different programs out there, so it’s important you understand them all. Another thing I do is ensure you know exactly what your home is worth by doing a comparable market analysis. In addition to that, I also provide you with our coming soon listings, our list of off-market properties, and a great list of short sale and foreclosed properties to broaden your home buying options. Access to the maximum amount of properties gives you the greatest opportunity to find your dream home. Realtors

Why do I need a Realtor?

Some buyers believe they don’t need a real estate agent, or plan to use the seller’s agent. You always want to have an experienced agent on your side working on your behalf. Realtors aren’t paid by you as a buyer, the seller’s commission is paid by the seller, it’s built into the price already. You will not save money by not using an agent; in fact it could potentially cost you thousands of dollars on the home.

What is the BIGGEST mistake you see home buyers make?

Waiving the home inspection because they are too anxious to get the property.
So, what are the consequences of not getting a home inspection? Once the house is settled on, the seller does not have any obligations towards the buyer. If the buyer later discovers an issue with the home, they cannot request any repairs from the seller. The buyer can only comment based on what they see, but a home inspection reveals problems that the seller or the buyer may not have been aware of beforehand.

If you have any more questions for me, or are thinking about how you want to #CreateSomethingNew, give me a call or send me an email. I look forward to hearing from you!

Leslie Z Website PNG
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