No matter which way you look at it buying a home is a major investment but for many homebuyers, it can be an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either.
This important report discusses the 9 most common and costly of these homebuyer traps, how to identify them, and what you can do to avoid them.
1. Bidding Blind What price should you offer when you bid on a home? Is the seller’s asking price too high, or does it represent a great deal? If you fail to research the market to understand what comparable homes are selling for, making your offer would be like bidding blind. Without this knowledge of market value, you could easily bid too much, or fail to make a competitive offer on an excellent value.
2. Buying the Wrong Home
What are you looking for in a home? It is a simple enough question, but the answer can be quite complex. More than one buyer has been swept up in the emotion and excitement of the buying process only to find themselves the owner of a home that is either too big or too small. Maybe they’re stuck with a longer than desired commute to work, or a dozen more fix-ups than they want to deal with now that the excitement has died down. Take the time upfront to clearly define your wants and needs. Put it in writing and then use it as a yardstick with which to measure every home you look at.
3. Unclear Title
Make sure very early on in the negotiation that you will own your new home free and clear by having a title search completed. The last thing you want to discover when you’re in the back stretch of a transaction is that there are encumbrances on the property such as tax liens, undisclosed owners, easements, leases, or the like.
4. Inaccurate Survey
As part of your purchase offer, request an updated property survey that marks your boundaries. If the survey is not current, you may find that there are structural changes that are not shown (e.g. additions to the house, a new swimming pool, a neighbor’s new fence which is extending a boundary line, etc.). Be very clear on these issues.
5-9 To request the full report with the final 3 things you must know, click here or call and test us at 832-993-1644, Today!
Did you know that every time one of our clients purchases or sells a home it helps local kids in The Woodlands area?! If you are or you happen to know someone planning to make a move give me a call directly at 832-993-1644 or visit www.JohnHelpsTheKids.com for more info.
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