|
|
 |
|
|
|
|
The 10 Dumbest Mistakes Smart People Make When Buying or Selling a Home – and How to Avoid Them
Buyers
|
Mistakes
|
Prevented By
|
|
1. Not knowing how much they can afford to pay for a house before they make an offer.
|
Obtaining pre-approval for a mortgage from a Lender, so you know in advance exactly how much you can afford.
|
|
2. Not finding out in advance whom the real estate agent represents.
|
Asking your REALTOR®. Most people think their agent is working for them. But unless the agent is working as your buyer representative, he/she represents the seller.
|
|
3. Not realizing that the wrong mortgage can cost thousands of dollars in unnecessary interest and taxes.
|
Consulting with a mortgage consultant, accountant, and/or financial planner before making a final decision on which mortgage to choose. CPAs can tell you the long-term effects on your income.
|
|
4. Not discovering hidden defects before buying a home.
|
Hiring a professional to conduct a pre-purchase home inspection.
|
|
5. Not knowing how debt can affect their ability to buy or refinance a home.
|
Asking your mortgage professional to help you review and repair your credit file in advance.
|
Sellers
|
Mistakes
|
Prevented By
|
|
6. Setting their asking price too high because of personal need or emotion rather than fair market value.
|
Consulting with a professional real estate agent. He or she can assist you in pricing your home correctly.
|
|
7. Failing to "showcase" their home by highlighting the best features.
|
Thoroughly cleaning, repairing, and readying your home for showing before you put it on the market.
|
|
8. Signing a listing contract with no way out.
|
Asking your real estate agent if you can cancel your listing agreement at any time, no questions asked, prior to signing the contract or agreement.
|
|
9. Choosing an agent for the wrong reasons. (For example, listing a home with the agent who works for the most popular company.)
|
Selecting a listing agent with the best marketing plan and track record.
|
|
10. Not knowing their legal rights and obligations.
|
Consulting a knowledgeable, trustworthy professional who understands the technical and legal aspects of a real estate transaction. Contracts are legally binding. Neglected details can wind up costing sellers thousands of dollars.
|
|
|
|
This report courtesy of
|
|
|
Jerry Johnson
|
|
|
Edina Realty, Inc.
|
|
|
651.481.6787
|
|
|
jerry@jerryjohnson.com
|
|
|
