Not knowing how much they can afford before they
make an offer.
The easiest way to avoid this mistake is to get
pre-approved for a mortgage by a lender so you know in advance exactly how
much you can afford.
Not realizing in advance who the real estate
Most people think that the agent they are working
with is working for them. But unless they are working as your buyer
representative, they represent the seller or no one.
Not realizing that the wrong mortgage can cost
thousands of dollars in needless interest and taxes.
Check with your
accountant before you make your final decision on which mortgage you are
going to choose. Your CPA will be able to tell you what the long-term
effects will be on your income.
Not discovering hidden defects before they buy a
One of the most expensive mistakes is also one of the easiest to
avoid, by having a professional pre-purchase home inspection.
Not knowing how much credit can affect their
ability to buy or refinance a home.
Before you buy a home, many of the
clouds on your credit history can be cleared up or even eliminated. Your
mortgage professional can help you review and prepare your credit file in
Basing their asking price on needs or emotion
rather than market value.
Many times, people make their pricing
decisions based on how much they paid or invested into their home. This
can be an expensive mistake. Overpriced homes take longer to sell and
eventually net the seller less money. Consult with a professional real
estate agent. They can assist you in pricing your home correctly from the
Failing to "showcase" their home.
impressions are the most important. Experience shows that for every $100
in repairs that your home needs, a buyer will deduct $300-$500 from their
offer. Thoroughly clean and prepare your home before you put it on the
market if you want top dollar.
Signing a listing contract with no way
Most traditional real estate agents want you to sign a listing
contract with no way out. When you list you home with me, you can cancel
your listing if your situation changes.
Choosing the wrong agent or choosing them for the
Many homeowners list their home with the agent who works
for the biggest company or the one that charges the least commission. You need to choose the agent with the best
marketing plan and track record to sell your home.
Not knowing all of their legal rights and
Real estate law is complex. The contract that you will
sign when selling your home is legally binding. Small items that are
neglected in a contract can wind up costing you thousands of dollars. You
need to consult a knowledgeable, professional who understands the in’s and
out’s of a real estate transaction.
For more information contact The Korn Team. 816-224-KORN (5676) or [email protected]
Copyright © 2001 The Korn Team & By Referral Only, Inc.