CHAPTER 20
Common Buyer Mistakes Once you’ve decided to purchase another home, and you’ve followed the steps and tips explained in the earlier chapters, it’s important to avoid common buyer mistakes. Unfortunately, many buyers who are dealing with potential foreclosure have clouded judgment. Based on focusing on their emotions rather than using a cool, rational, levelheaded thought process, they end up making easily avoidable mistakes that are not only costly but can also prevent them from reaching their goal. Learn from the following common buyer mistakes so that you can avoid making costly errors and regrettable decisions that could temporarily stop you in your tracks. Remember, you hold the power, and knowledge is power!
COMMON MISTAKES BUYERS MAKE:
• Not knowing your budget • Disregarding hidden costs • Not knowing your credit score • Disregarding local housing market trends • Not being represented by an agent • Not getting a pre-approved home loan • Not conducting a home inspection
• Compromising on your needs • Relying solely on online services Mistake #1: Not Knowing Your Budget 177
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