Do not buy without a Real Estate Agent. Remember your agent will help guide you throughout the entire home buying proceess. There is no charge - Now imagine if if other professionals, including accountants, attorneys and doctors cost us nothing. Below find some of the most common mistakes buyers make, Some can even cost thousands of dollars, and loads of grief:
NOT PLANNING BEFORE PURCHASE
Searching for a home can be impulsive and emotional, just like buying a used car. Dont let one aspect of the home (Appearance for example) be the sole factor in your buying decision. Take the time with your agent to map a startegy. Consider the following. "Where do I want to live ?" "Do I want to commute ?" What area has the highest price appreciation ? " "How much can I afford" ? Its especially important in todays market to get pre-qualified, in fact - writing an offer now requires a pre-qual letter. Ask your self what type of home do you want, and finally done forget to consider down payment and closing costs.
*NOTE*
The seperation of a good agent from a GREAT agent is one whom can find you, the best investment, for your money.That means finding you a nice home in the best area for whatever you have to spend.
IDENTIFY OPPORTUNITIES
Often in todays current market, its not unusual, for many buyers trying to purchase the same home and there being numerous offers on the same property. Its very important for your agent to completely understand exactly what your looking for. I have often spent evenings with my computor, looking for oppertunitys.This can be imperitive in being able to get a "great" buy, because often the best properties last only "hours" on the market.
FIND THE RIGHT LENDER
Getting the right type loan for your needs is most important. There are many lenders vying for your business. Often sellers will not even consider an out of town lender, even if you made a "great" offer on their house. Your agent hopefully will be able to help. She should have worked with numerous trustworthy lenders in the past. (note) The wrong choice in a lender can be a total disaster, later when the house is in Escrow.
GET A HOME INSPECTION
Your agent can help recomend the best home inspectors. Buying a house with a majior defect that was overlooked can be a real problem.Make sure you know if the range and hot water heater are electric or gas. Test the furnace to make sure it works even if its summer, the next winter when its freezing outside is not the time to find out. Also do a "final" walkthrough before closing.
WASTING TIME
All to often buyers waste hours combing the internet, through sites, or "realtor.com" as well as various magazines, and newspaper ads. More often than not in todays market properties are selling so quickly, everything you see is already sold. Driving around looking at signs is probably the WORST idea. Its not unusual for a home to be sold even before the "For sale" sign gets put up. Moreover there are countless homes already in escrow, or sold and the sign is still in front of the house.
Dont waste your valuable time, looking through homes that are already sold. Your agent can look in multiple and do your research for you. That way when you go to look at a house, you know its really available.
