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
Buyer: Be 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 Minute: Home 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 Wars: Buying 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 Seriously: Many 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
Source Material: "6
Real Estate Mistakes That May Cost You" by Adam
Verwymeren (Published
10/22/14 via FOX News)
