|Three more innocent mistakes home
Julie Garton-Good, GRI, DREI
As a continuation of the first article, "Three Innocent
Mistakes Home Buyers Make", here are three more errors you'll want to
Mistake #4: Let the lender look in your wallet
before you begin
Get pre-approved. The lender can pre-approve you for a home
loan, virtually making you a cash buyer! While the process varies from lender to
lender, it generally requires a look at your credit report, copies of your pay
stubs, and a look at your bank statements to show that you have the down payment
and cash for closing costs on hand. Being pre-approved is guaranteed to
strengthen your position as a buyer.
Mistake #5: Find the professional help you need
- The Realtor as your guide:It's
good that you're using the best guide in buying a home---your Realtor. He/she
will help you smoothly navigate through the home buying process and give you
added-value information for making the tough decisions you'll encounter.
- Consult a CPA and a real estate attorney.If you have questions regarding your tax or legal position, now is the
time to ask them. Your Realtor can give you a menu of professionals he/she has
had positive experiences with.
Mistake #6: Choose the best house for your needs
- Make a wish list.As with
many big decisions in life, finding the right home is a matter of give and take.
Why not start out with a "wish list" of things you have to have in a
home and progress from there? In "The Home Buying Game: A Quick and Easy
Way to Get the Best Home for Your Money", published by Dearborn Financial
Publishing, a comprehensive wish list is provided that helps you prioritize
what's important to you.
- Drive around, walk around, and ask around.One of the biggest mistakes home buyers make is not thoroughly
inspecting the neighborhood of the home they're interested in. So drive around
(to check the traffic flow and the adjacent neighborhoods), walk around (to
check for noisy handyman garages, dog kennels and unlit streets), and ask around
(talk to neighbors about how they feel about the safety and property values of
the neighborhood). By driving around, walking around, and asking around, you'll
know that the house you're interested in is in a safe and financially sound
You'll find the final installment of this article at "Four
Final Errors Home Buyers Make".
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