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Buyer's Tips How to Buy Your
First Home....the Easy Way!
by Unknown Author
Avoid the 10 Most Common,
Painful, Frustrating Mistakes First-Time Home Buyers Make
Buying a residence can be a hair raising
experience. You will experience a roller coaster of emotions
while finding the right place, securing the loan and finally
moving in. For most of us, the first time home purchase is the
largest investment we’ve ever considered. The emotions of
purchasing something so expensive and personal can often cloud
our business judgment.
Most home purchasers do little or no research
before they invest their nest egg. Doesn’t it make sense to
become as completely informed as possible before you buy your
first home? This special report is designed to help you avoid 10
common and crucial mistakes. The right real estate professional
can help you make good sound business decisions based on your
personal situation.
Inspect, Inspect and Inspect
Go over the inspection report with a fine tooth comb. Make sure
the report was done by a professional organization. For condo
purchases go over the CC&R’s, By-Laws, and Association Fees.
Don’t take anything for granted... inspect everything!
Imagine the Property Vacant
Your furnishings and decorations will be the ones filling this
new residence. Don’t be swayed by beautiful furniture; it leaves
with the owner.
Income + Lifestyle = Mortgage Payment
Sit down with your professional real estate agent and honestly
discuss your income level and living expenses. Take into account
future considerations, children, add-ons, amenities, and
fix-ups. Your dream home is certainly worth a sacrifice but
don’t mortgage your entire future.
View Several Homes
See at least 7-10 properties. Don’t move too slow but don’t move
on the first property you see. With your agent’s help you should
be able to view enough properties to get a good overall
perspective of the home market. When you find the right property
all the leg work will be worth it.
Utilize Your Team
By aligning yourself with the right real estate professional you
will have an entire team at your disposal. Utilize your lender,
title rep and agent. Each of them should work hand in hand for
your benefit. Explore all the options before you sign.
Be Columbo
Check out all costs and expenses before you sign. Utilities,
taxes, insurance, maintenance and home owner dues if applicable.
Make sure all utilities (gas, electricity, and water) are on
during tour walk-through so you can inspect everything in
working order. Ask lots of questions and be very detail
conscious.
Do a Final Walk-Through
Visit the property after all furnishings have been moved out to
be sure there are no surprises. Be absolutely positive the
property was left exactly as you had agreed upon in the
contract. Things that could have been spotted in a final
walk-through are often unintentionally overlooked.
Plan For Flexibility
Closing dates are not written in stone. Allow for contingencies
and have a back-up plan. If you or the sellers need a little
more time to conclude the final arrangements, don’t let these
delays upset or frustrate you. These types of circumstances are
not uncommon in a real estate transaction.
If It’s Not In Writing, It Doesn’t Exist
All promises and discussions should be in writing. Don’t make
any assumptions or believe any assurances. Even the best
intentions can be misinterpreted. Have your professional keep an
ongoing log in writing of all discussions and get the seller’s
written approval on all agreements.
Loyalty Breeds Loyalty
Be open, honest and up front with your team. Hard feelings and
disloyalty will cause head aches, delays or may even keep you
from getting into the home you worked so hard to locate. Take
the time to select the right team in the beginning and your
first home purchase will be a pleasing and memorable experience.
The original author is not known. It is not our intention to infringe upon
copyrighted material. If you are the original author of any of these articles,
please let us know so that we may provide appropriate credit.
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