Tuesday, November 4, 2014

Six Common Real Estate Mistakes


Buying and selling real estate in the market today is certainly NOT for sissies! The competition is steep, and the stakes are high. Making small mistakes can end up costing you thousands of dollars.

Be on the look-out for issues, such as:

1) Not Getting the Price Right: Your first line of defense is to hire a home appraiser who can accurately gauge the worth of a property. This service might cost you a few hundred dollars, but it is an investment that can, in the long run, save you money.

2) Overlooking "Pretty Is As Pretty Does"Tidy things up! Before you put a property on the market, be sure that everything is well-tended and looking its picture-perfect best.

3) Hiding Problems from the BuyerBe up front from the get-go. Disclose any problems—in writing—so there will be no cause for dispute or litigation after the sale goes through.
4) Wrecking Your Credit at the Last MinuteHome buying and selling doesn't happen overnight. Be mindful of other purchases made during the process, such as buying a new car or missing credit card payments. Remember a pre-approval does not guarantee a finalized mortgage.
5) The Trap of Bidding WarsBuying property can be an emotional process. Therefore, make sure you have an experienced agent in your corner who can advocate and negotiate the best deal on your behalf.
6) Not Taking the Inspection SeriouslyMany buyers and sellers don't put enough credence in this step of the process. Take advantage of the home inspection and leverage the results to drive the price in your favor.
In the end, be mindful and proactive. Knowledge is power! To read more about each factor listed above, link HERE

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