Top mistakes to avoid in today's market!
❌ Underestimating the costs of selling
The total cost to sell a home can amount to much more than the 7% in agent commissions most people expect to pay. When you account for closing costs, repairs, and other concessions to the buyer, the costs of selling can be closer to 10% of the sale price.
❌ Buying a Home Without a Professional Inspection
There are a lot of things a home inspection can reveal about a property that are not visible to the naked eye. Be sure to hire someone who comes with a good referral basis.
❌ Skipping the Loan Pre-Approval Step
When you are pre-approved, the bank is saying, "We will give you a mortgage of up to this amount, so now all you have to do is find your home." Some sellers only allow real estate agents to show their house if someone has a pre-approved letter. That indicates that the shopper really is serious about buying a home.
❌ Not Setting a Realistic Budget
Just because the bank prequalifies you for a loan amount of $400,000 doesn't mean you can afford to make that payment every month. Before hitting the streets for a house hunt, you should sit down and make a monthly budget of what you spend every month.
❌ Picking the Wrong Agent
Treat meetings with agents like a job interview because that's really how it works. Keep in mind that the person is going to be working for you.
Want results? Call me today!
Gary 'Mr Action' Fayerman
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