CHAPTER 4 Real Estate Horror Stories To Learn From
Perhaps you have seen frightening stories like this on TV. Perhaps you have heard about them from neighbors or co- workers, but you still have not witnessed anything like them yourself. Be warned. The first time is one time too many. Now that you are in the market for your first home, or maybe a second or third, congratulations! Buying a new home is one of the biggest achievements for many people. Unfortunately, home buyers — especially first-time buyers — can be the victims of real estate horror stories or unknowingly contribute to having a terrible experience when attempting to purchase their first home.
Here are a few examples:
Melissa was excited about making her first home purchase in 2016. Being in Miami, Florida she was limited with pricing options, with many of the lower-cost homes around $250,000. She went to several banks and got preapproved for different amounts at various lower interest rates. She found her dream condo, and, after some deliberating, she decided to go with the lowest rate of 4% offered by her lender. Melissa completed her paperwork and submitted it with her 10% deposit. The rate wasn’t her only deciding factor. Personnel had been friendly and great at communication, making her feel very comfortable about the process, until now. Suddenly, it seemed as though all of the bank corporation 34
Powered by FlippingBook