In our final post of these 10 Mistakes Buyers make when Purchasing a home we will end with the final two. We have been through the first eight, Making an offer on a home without being pre-qualified, Not having a home inspection, Limiting your search to open houses, ads and the Internet, Choosing the proper Real Estate Agent, Thinking there is only one perfect house out there, Not considering long term needs, Not examining Insurance issues and Not buying a home protection plan. The final two although you could come up with more, these are just the top ten:
9. Not knowing the total costs involved in buying a home: Very early in the process, ask your Realtor and Lender for an estimate of all closing costs, Title company's and attorneys fees should be considered. There will be items that are required to be pre-paid by the lender and these can add up quickly if you are not prepared. Association fees if there is an HOA should also be considered. Be sure to examine your settlement statement and have it before you get to the closing table so you can get any questions answered before closing. Your Realtor should be able to provide this at least 24 hours before the closing.
10. Not following through on due diligence: Buyers should make a list of any concerns they have relating to issues such as, crime rates, schools, power lines, neighbors, environmental conditions etc.. Ask the important questions Before you make an offer on the home. Be diligent so that you can have confidence in your home purchase.
Hope this has helped and feel free to ask any questions. Thanks
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