The
Seven Most Costly Mistakes Made by Home Buyers
1)
Not getting pre-qualified for a loan before you search for a
home.
Getting
pre-qualified for a loan by a professional lender will let you
know in advance how much
mortgage you can afford. This allows you to make an offer
on your home with confidence funding is available.
2)
Not being honest with your realtor or lender up front about
your credit.
Your credit--
whether good, bad, or limited--affects everything from
your down payment to interest rates. Your realtor or a
professional mortgage
consultant can often advise you as to how you can get credit
problems cleared up or completely
eliminated from your credit report before
you apply for financing or make an offer on your home.
3)
Not negotiating with the owner to provide a home warranty.
A home warranty
can save you thousands of dollars in repairs, and often be obtained
for as little as $350.00 for one year. A typical home
warranty covers the electrical,
plumbing and heating systems as well as major
home appliances.
4)
Not requesting a market analysis of the home, in comparison
to similar homes in the
neighborhood from your realtor before you
make an offer.
A home is not just
a place to live—it’s an investment in
your future. View several homes before you make an offer so you
know what’s available on the
market. Be certain you’re making a wise investment by
asking your Realtor to provide comparable sales of similar homes
in the same neighborhood.
5)
Not inspecting a home before you buy it.
Hire a professional
to inspect every aspect of the
home thoroughly. This can save you thousands of
dollars in costly repairs and hundreds of headaches in the future.
A thorough home inspection can
also allow you to negotiate for any repairs prior to
closing.
6)
Not working with a Professional Buyer’s Agent.
The agent you are
working with does not necessarily work
for you. Unless your agent is working
as your buyer representative, they are working for the seller.
Usually, a buyer agent’s service is
free, since their commission is paid by
the seller or homebuilder. Be sure to select a real estate
professional who has your best
interest at heart.
7)
Not taking into account your present homeowner or renter
status.
If you
already own a home and must sell this home before you buy a new
one, it’s best to get a
realtor to do a complete market analysis on your present
home. This allows you to know how much you can sell your
current home for, before you
make an offer on a new one. If you are leasing or renting,
the lease’s expiration date will give you a timetable for your
new purchase.
To avoid making these
costly mistakes, call me today, at
808-398-9987 for a free consultation. I look forward to helping
you become a satisfied
homeowner.
Your
Hawaii Real Estate Specialist
Oleg Potemkin (RA) Hawaii Realty
Associates, LLC
4211 Waialae Avenue, Suite 1020,
Honolulu, Hawaii 96816 USA
Tel: (808) 398-9987 Fax:(808)
538-8081 E-mail: Oleg@Hawaii-Realty.com
