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| Gladwin Real Estate Information |
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| Common Mistakes Home Buyers Make
by Roy White Not Being Pre-Approved When Making an Offer Getting a pre-approval before looking at homes will make your life easier, so take the time to talk to a lender. Lenders will ask you specific questions about your income, debt, etc. to help you determine the price rang you can afford. It is the first, and a very important step to home ownership. Not Getting A Home Inspection A home inspection done by a certified inspector can alert you of problems that the average home buyer might overlook, possibly saving thousands of dollars in costly repairs. Relying on Ads, The Internet and Open Houses To Find a Home The properties available changes on a minute by minute bases. In a lot of cases a home is sold before an ad is even published, or before it can hit the internet. Using a Realtor will save you money, time, and a lot of aggravation. Realtors have access to information that the general public does not. They can give you the most current information and are the best resource to helping you find the perfect home. Not Choosing a Real Estate Agent Who is Committed To You and Your Needs Buying a home is a very important decision. Make sure the real estate agent you choose is committed to you and your needs before, during, and after the transaction. Getting Hopes Set On Only One House Be open to all possibilities when looking for a new home. New homes arrive on the market on a daily basis. Ask your Realtor for a comparative market analysis when looking at properties. This will compare similar homes in the area that are still on the market and have recently sold. This will tell you if the home you are thinking about is a good buy or if it is over-priced. Only Thinking About "Today" When buying a home it is important to look ahead. Will this house still fit all your needs 5 years from now? Not Being Fully Informed on Insurance Issues. Spend some time talking to an insurance agent before purchasing your new policy. You want to make sure the insurance you are getting is the right insurance to help protect your investment. Not Buying a Home Warranty A home warranty usually lasts one year from close of escrow. It is usually not very expensive and covers any basic repairs you might run into. Your agent can help you find the home warranty that is right for you. Not Being Fully Aware Of All the Costs Involved Be sure to ask your realtor or lender for an estimate of closing costs, early in the transaction. Don't forget about things that need to be pre-paid, homeowners association fees, and insurance for example. Have your agent go over your settlement statement, or HUD1, before close of escrow. Working With More Than One Agent If you are calling agents other than your agent about properties you might be interested in, then your agent is not doing their job. Here are some questions you should be asking before you select your agent: How extensive is their knowledge on current market conditions? How long have they been in business? If they get sick or go on vacation during their transaction, do they have a team of agents that can help you? Any agent should be able to find the home you are looking for, they all have access to the exact same information. It is very important that you find an agent that listens to your wants and needs, has a good understanding of current market conditions, and that makes you feel comfortable during your transaction. Committing to one agent will insure that your agent in return makes a complete commitment to you. About the Author The Author, Roy White and his wife, Shirley, have been helping people buy and sell real estate in and around Las Vegas for more than 28 years. If you have any questions or comments please call them toll free at 1-866-374-3444, e-mail them at CENTURY21WHITE@aol.com or visit their website at www.C21WhiteTeam.com b-17 |