• Please ensure that you have o ffi cial pre-approval for a home loan before visiting properties and placing an o ff er. If you work with a qua lifi ed buyer’s agent, then they will help you make sure everything is in order. Otherwise, you’ll end up wasting the seller’s time, the agent’s time, and your own time if you make an o ff er, enter into a contract, and only then learn that the bank won’t lend you what you need for a down payment and mortgage. Mistake #2: Not Conducting a Home Inspection Don’t make the mistake of relying on the seller to let you know that a home inspection has already been completed on their end, and tell you what the home’s issues are. Some sellers are sneaky and don’t reveal some of the property’s problems, whether minor or major. First-time buyers assume this means they don’t need to conduct their own professional home inspection, but this is not recommended. Yes, it takes time, and yes, there’s a cost, but it could cost you a whole lot more if you skip this step. Before closing on the sale, you need to know for yourself everything about the property’s condition. Th is means that you need to hire a reputable and qua lifi ed inspector to conduct a professional home inspection. Th is inspection will reveal any structural or system-related issues, anything from structural integrity problems in the foundation, walls, or roo fin g, as well as any electrical, gas, and plumbing problems. Any sales agreement should be conditional on satisfactory results from this inspection. Mistake #3: Compromising on Your Needs Newbie home buyers o ft en make the mistake of compromising on their needs, generally because the home-search process is taking 63
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