Last week, Deborah Elliott-Shultz spoke about the biggest mistakes sellers make. Today, she discusses some of the biggest mistakes buyers make. Maybe you have bought real estate and you have some regrets. Today’s show is all about helping prevent you from doing it again and to educate those that are thinking about buying real estate.
The first biggest mistake many buyers will make is to not pre-qualify for a loan. Pre-qualifying for a home loan helps you and your realtor to know what your top home price can be. This not only helps minimize your risk of having a house you can’t afford, but also keeps things fair for the seller. It also protects you by finding possible surprises on your credit report. If you find this information out early, you can clear up any surprises or bogus entries in your credit report before looking for a house.
The second biggest mistake buyers make is to not research the neighborhood they would like to buy into. This is not your realtor’s job. You are welcome to pull crime reports for the area, knock on prospective neighbor’s doors to find out about the neighbors. It is recommended to do due diligence in discovering if your prospective neighborhood is what you’re looking for.
The third biggest mistake Deborah discusses is finding the right inspectors. You want to make sure the inspector is what you expect. Also, because Colorado does not license inspectors, make sure the inspector you choose is certified through NACHI (website here) or ASHI (website here). Both of these organizations make sure home inspectors have received appropriate training and agree to a certain code of ethics.
Come listen as Deborah goes through her list of some of the biggest mistakes buyers make, including testing for radon, putting in offers on a house, determining proper expectations, choosing a realtor, cautioning active duty military, and obtaining a home warranty. Deborah enjoys talking with her listeners, so if you have a question or are interested in the buying or selling of a home, you can contact her at (719) 641-1357.