Avoid These Mistakes Many Home Buyers Make
Buying a home can be fun and exhilarating or it can turn into a nightmare, depending on the decisions you make in the process. Our profession Realtors can guide you on your journey and we recommend you follow the below guidelines to make the process a smooth one.
Not Using The Web as a Resource
Our site, www.kpdk.com, as well as other on-line resources, can help you do research into a home or area without ever leaving the comfort of your favorite chair. We can provide everything from county governments to our schools, community information, and region-specific tips that might help you in your search for a new home. We suggest you bookmark us and stay with www.kpdk.com for all your needs.
Limiting Your Search to Open Houses, Ads and the Internet
Many homes listed in magazines or on the Internet have already been sold. Your best course of action is to contact a Realtor. They have up-to-date information that is unavailable to the general public and are the best resource to help you find the home you want.
Choosing a Real Estate Agent Who is Not Committed to Forming a Strong Business Relationship With You.
Making a connection with the right Realtor is crucial. Hire a Realtor to represent you who is dedicated to serving your needs-before, during and after the sale.
Not Considering Long-term Needs
It is important to think ahead. Will he home suit your needs three to five years from now?
Not Examining All Insurance Issues
You should purchase adequate Homeowners AND Owners Title Insurance. Many agents minimize the need for Owners Title insurance and that is a mistake. Ask your closing attorney about this if you have questions.
Not Buying a Home Protection Plan
This is essentially a mini insurance policy that usually lasts one year from your closing. It usually covers basic repairs you may encounter and can be purchased for a nominal fee. Talk to your agent to help you find the Home Protection Plan you need.
Not Knowing Total Costs Involved
Early in the buying process, ask your Realtor or lender for an estimate of closing costs. Ask them to include the cost of Owners Title Insurance and a survey. Pre-paid responsibilities such as Homeowner Association Fees and escrow for future taxes and insurance must also be included. Be sure to examine your proposed closing statement in advance before you actually close.
Not Following Through on Due Diligence
Buyers should make a list of any concerns they have relating to issues such as crime rates, schools power lines, neighbors, environmental conditions, etc. Ask the important questions before you make an offer on a home. Be diligent so that you can have confidence in your purchase.
Making an Offer on a Home Without Being Pre-Approved
There are a variety of ways to finance the home of your dreams. However, prior to starting your search, your Coldwell Banker KPDK sales associate will guide you through the qualification/financing process so that all the homes you look at you are qualified to purchase. Nothing can be more frustrating than to find your home and then not be able to afford it. Lending guidelines have changed dramatically over the past year and if you have an accurate view of what you can afford, it will ease the entire process for you. Coldwell Banker Mortgage can help you understand just how much house you can afford.
Not Having a Home Inspection
In our area, home inspections are an accepted part of the home buying process. Nothing has the potential to blunt your enthusiasm over a new home purchase like problems that could be inherited along with that home. Home inspections will often go through the health of a home's furnace, roof and foundation to give you an accurate description of just what kind of state a home is in. Take advantage of that and don't be surprised if a few things that you may not expect show up.
