THE 10 DUMBEST MISTAKES SMART PEOPLE MAKE WHEN BUYING OR SELLING A HOME.
BY MATT LONG - THE LONG HOME TEAM
2012 EDITION MATT LONG . SOLUTIONS REAL ESTATE . 602-284-3553 . MATT@LONGHOMETEAM.COM
HOME BUYERS MISTAKE #1: Not Knowing How Much They Can Afford Before They Make An Offer. The easiest way to avoid this mistake is to get pre-approved for a mortgage by a lender so you can know in advance exactly how much you can afford. The Long Home Team has several lenders on hand tha we have worked with in the past and know will do a good job for you. The lender is potentially the most important part of the home buying puzzle because without the money, no purchase can me made!
MISTAKE #2: Not Realizing That The Wrong Loan Officer Can Cost Thousands Of Dollars by Not Getting You the Right Loan.. The Long Home Team’s Prefered Lenders look out for your best interest, not theirs. Is a 15 year loan better for you? What about points to buy down your interest rate? Up front fees? It’s also not a bad idea tocheck with your accountant before you make your final decision on which mortgage you are going to choose.
MISTAKE #3: Not Realizing In Advance Who The Real Estate Agent Represents. Most people think that the agent they are working with is working for them. But unless they are working as your buyer representative, they represent the seller. It is important that you as a home buyer secure your own representation, this can still be done at no cost to you, ask the Long Home Team how!
MISTAKE #4: Not Discovering Hidden Defects Before They Buy A Home. One of the most expensive mistakes is also one of the easiest to avoid, by having a professional pre-purchase home inspection. Did you know you have a set period of time to inspect the home, and make sure it is up to par mechanically before you buy it? This is a great way to avoid those “money pit’s” we have all heard about. Of course, the Long Home Team has several pre-screened home inspectors that can do the job right the first, and for not a lot of money. MISTAKE #5: Not Knowing How Much Their Credit Can Affect Their Ability To Buy Or Refinance A Home. Before you buy a home, many of the clouds on your credit history can be cleared up or even eliminated. Your mortgage professional can help you review and prepare your credit file in advance. This is just one of several reasons the Long Home Team encourages all of our buyers to make talking to one of our pre approved lenders step ONE in their buying process.
HOME SELLERS MISTAKE #6: Basing Their Asking Price On Needs Or Emotion Rather Than Market Value. Many times, people make their pricing decisions based on how much they paid for or invested into their home. This can be an expensive mistake. Overpriced homes take longer to sell and eventually net the seller less money. Here at the Long Home Team we believe in providing the truest, most accurate pricing available based on recent sales of similar properties in your area.
MISTAKE #7: Failing To "Show-Case" Their Home. First impressions are the most important. Experience shows that for every $100 in repairs that your home needs, a buyer will deduct $300-$500 from their offer. Thoroughly clean and prepare your home before you put it on the market if you want top dollar. We always provide you with a list of things that can be done to help maximize sales price, ranked from highest to lowest importance MISTAKE #8: Signing A Listing Contract With No Way Out. Most traditional real estate agents want you to sign a listing contract with no way out. At the Long Home Team we want happy above all else. If you are ever not happy with our service, tell us. If itâ€™s something we can change we will, if we need to part ways, we understand.
MISTAKE #9: Choosing The Wrong Agent Or Choosing Them For The Wrong Reason. Many homeowners list their home with the agent who tells them the higher price. Or they list with the agent who works for the biggest company. You need to choose the agent with the best marketing plan and track record to sell your home.
MISTAKE #10: Not Agreeing to Repairs During the sale of all homes the buyer can get an inspection (see Mistake #4 above). After which they will request a few repairs. These are things any buyer will want done, and refusing to fix them now, will only cost more later.