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7 Costly Buying
Mistakes
Napa Hills Buying Guidelines
Choosing the Wrong Realtor
As a buyer in real estate you don't pay a real estate commission
directly to your agent, this is typically taken care of by the
seller out of his proceeds at the closing. But in the long run a
REALTORŪ with experience and many closed transactions will cost you
much less than someone who is inexperienced or unknowledgeable! A
top producer's business is built on repeat clientele and referrals
because they have proven they know how to select a great home for
their buyers and negotiate the best price and terms. Your agent is
not your best friend, your agent is your financial advisor for what
may be the largest single transaction in your life!
Poor Location
Location! Location! Location! You've heard that over the years and
it still holds true. You can always change a home's decor and some
of its structural features, but nothing can ever change its
location. Buying a home in a poor location guarantees minimal (if
any) appreciation and it will be hard to sell in the future.
Not Having a Home Inspection
A home inspector can literally save you thousands of dollars! They
will check all structural, mechanical, electrical, plumbing and
heating and air conditioning systems for defects the homeowner may
even be unaware of. They will help prevent you from purchasing a
home with a major defect or one which requires too much corrective
maintenance.
Choosing the Wrong Lender or Loan
The wrong lender or the wrong loan program for your particular
circumstance can lead to the loss of big bucks! For example, if you
know you are going to be in your home only a couple of years before
that next job transfer or retirement, why pay all your closing fees
up front? Often you can save thousands by raising the interest rate
you pay by half a percent. Your monthly payment may be a bit higher,
but you may save $2,500 to $5,000 overall. A good lender will take
the time to find out what works best for you!
Not Having Your Own Agent
You should always have your own agent in a real estate transaction!
A new home is no exception - it costs you NOTHING and a good agent
will be able to save you money on loan fees and upgrade options.
Buying a Home You Can't Afford
Always go by the lender's guidelines when deciding how much house
you can afford. If you stretch too much you may find yourself in a
financial bind which forces you to sell your home. A forced sale
almost always guarantees a loss.
Buying a Home You Don't Like
You have to live in your home, not your mother, your father, your
big brother, your best friend and not even your REALTORŪ! Make sure
the home your purchase is the best one for you that you can find
within your price range.
Article by Diann E. Tonnesen, RealtorŪ
Las Vegas Real Estate
Las Vegas Condos
Las Vegas Country Clubs
Henderson Nevada Real Estate
This article is copy write protected and may only be reprinted with
permission of the author. Any use of this article without express
written permission of the author will be prosecuted to the fullest
extent allowed by law.
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