CHAPTER 5 Buyer’s Mistakes
If you do decide that it makes sense for you to consider the investment of owning your own house instead of renting — congratulations! Home-hunting is exciting, exhausting, and anxiety-provoking, all with good reason. Unfortunately, many people make mistakes that prevent them from reaching their goal. Learn from these tips to avoid making costly errors that could put a hold on that “sold” sign.
RELYING ON ONLINE SERVICES ONLY
Now that many real estate transaction services are obtainable at the click of the mouse, many people have become too dependent on them. While it is true that loans can be obtained online and houses can be bought as well, failure to establish personal touch with lenders or home sellers could present costly misunderstandings in future or put you at a bargaining disadvantage. It might feel more convenient and less stressful to go through as much of the process as possible online, but you may well find you’ve simply saved up far more stress and inconvenience for later. In the end, it’s better to simply take the plunge at the outset and handle things in person when you can.
NOT BEING REPRESENTED BY AN AGENT
You can browse without an agent, but once you are considering seriously looking at a house, engage a real estate agent. Do not rely on the seller’s agent to represent you. In fact, it would be fair to say you should never walk into an open house without having an agent. The listing agent is the seller’s representative, is paid a 42
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