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Simple Mistakes to avoid when buying or selling real estate

Posted on 07/02/2015

Buying

- Not knowing how much you can afford: Avoid this issue by getting pre-qualified for a mortgage from a lender.

- Getting the wrong mortgage: The wrong mortgage can cost you thousands of dollars in unnecessary taxes and interest.  Before deciding on a mortgage consult with a mortgage consultant, financial planner and/ or account.  A good CPA can tell you the effect on your income.

- Missing hidden defects before buying a home: Before buying a home hire an professional to conduct a home inspection.

Not knowing about debt:  Meet with a mortgage professional  to find out how debt can affect your ability to refinance or buy a home. A mortgage professional will help you review and repair your credit in advance.

Selling

- Setting the wrong asking price: A good real estate agent can help you price your home at the correct price.  You need to remove your emotions and set a fair price

 Not having your home show ready:  You want to highlight the homes best features, thoroughly clean and make repairs.

Signing a listing contract without an out: Before signing, ask your agent if you can cancel your listing agreement at any time, no questions asked.

Choosing the wrong agent: Do not choose your agent for the wrong reason , for example because she/ he works for a certain company. Pick the agent with the best track record and marketing plan.

Not knowing the legal rights:  Contracts are legally binding, missing details can cost you thousands of dollars. Before signing, consult with a knowledgeable and trustworthy individual who understands real estate contracts.

Any questions about buying or selling real estate, give us a call today! 

 

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