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How to Buy Your First Home....
The Easy Way! Avoid the 10 Most Common, Painful, Frustrating Mistakes
First-Time Home Buyers Make
Buying a residence can be a hair raising experience. You
will experience a roller coaster of emotions while
finding the right place, securing the loan and finally
moving in. For most of us, the first time home purchase
is the largest investment weve ever considered. The
emotions of purchasing something so expensive and
personal can often cloud our business judgment.
Most home purchasers do little or no research before
they invest their nest egg. Doesnt it make sense to
become as completely informed as possible before you buy
your first home? This special report is designed to help
you avoid 10 common and crucial mistakes. The right real
estate professional can help you make good sound
business decisions based on your personal situation.
- Inspect, Inspect and Inspect - Go over the
inspection report with a fine tooth comb. Make sure
the report was done by a professional organization.
For condo purchases go over the CC&Rs,
By-Laws, and Association Fees. Dont take anything
for granted... inspect everything!
- Imagine the Property Vacant - Your
furnishings and decorations will be the ones filling
this new residence. Dont be swayed by beautiful
furniture; it leaves with the owner.
- Income + Lifestyle = Mortgage Payment - Sit
down with your professional real estate agent and
honestly discuss your income level and living
expenses. Take into account future considerations,
children, add-ons, amenities, and fix-ups. Your
dream home is certainly worth a sacrifice but
dont mortgage your entire future.
- View Several Homes - See at least 7-10
properties. Dont move too slow but dont move
on the first property you see. With your agents
help you should be able to view enough properties to
get a good overall perspective of the home market.
When you find the right property all the leg work
will be worth it.
- Utilize Your Team - By aligning yourself
with the right real estate professional you will
have an entire team at your disposal. Utilize your
lender, title rep and agent. Each of them should
work hand in hand for your benefit. Explore all the
options before you sign.
- Be Columbo - Check out all costs and
expenses before you sign. Utilities, taxes,
insurance, maintenance and home owner dues if
applicable. Make sure all utilities (gas,
electricity, and water) are on during tyour walk-throughso
you can inspect everything in working order. Ask
lots of questions and be very detail conscious.
- Do a Final Walk-Through - Visit the
property after all furnishings have been moved out
to be sure there are no surprises. Be absolutely
positive the property was left exactly as you had
agreed upon in the contract. Things that could have
been spotted in a final walk-through are often
unintentionally overlooked.
- Plan For Flexibility - Closing dates are
not written in stone. Allow for contingencies and
have a back-up plan. If you or the sellers need a
little more time to conclude the final arrangements,
dont let these delays upset or frustrate you.
These types of circumstances are not uncommon in a
real estate transaction.
- If Its Not In Writing, It Doesnt Exist -
All promises and discussions should be in writing.
Dont make any assumptions or believe any
assurances. Even the best intentions can be
misinterpreted. Have your professional keep an
ongoing log in writing of all discussions and get
the sellers written approval on all agreements.
- Loyalty Breeds Loyalty - Be open, honest
and up front with your team. Hard feelings and
disloyalty will cause head aches, delays or may even
keep you from getting into the home you worked so
hard to locate. Take the time to select the right
team in the beginning and your first home purchase
will be a pleasing and memorable experience.
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