Top 3 Mistakes Buyers Make
So, you are ready to buy a Home. If you've bought and sold several homes in the past, you likely won't make these mistakes. However, if you are new to the market or you're a First Time Homebuyer, You will not want to make these mistakes.
#1 Not Consulting with a REALTOR First
Friends and family can give good advise, but your REALTOR knows the market and what it will take for you to find the right home and have your offer accepted. They can always give you recommendations on reputable lenders and will even know about state or county Bond Initiatives that you may qualify for. (Note: Not all Lenders participate in these Bond Programs, which can give certain buyers several thousand dollars towards closing costs or down payment). Your REALTOR will also lay out the steps necessary in the process. Its important to note that the real estate market shifts. In a Seller's Market, inventory is tight and you will likely be competing with other qualified buyers. In a Buyer's Market, there is more inventory to choose from so you're likely to get more seller concessions. Do your self a favor and talk to a REALTOR First - After all it doesn't cost you a dime!
#2 Trusting On-Line Home Values
Searching for homes online is a a GREAT idea. Looking at listings online can give you a really good idea of what is out there. Just don't put too much faith in the accuracy of the information. Home value estimates are often incorrect. They rely on an algorithm and can be very inaccurate. An appraiser is not going to go by these value estimates. You shouldn't either!
#3 Getting Too Emotionally Attached
You've found your dream home and you're so excited you can't stand it. Your REALTOR submits your offer and you get a call the next day saying the seller has accepted another offer. You'll may feel devastated. DON'T ! This often happens in a seller's market. Stay focused and press on. It will pay off. You'll find the right home for you and your family.
Search Tampa Bay Homes
#1 Not Consulting with a REALTOR First
Friends and family can give good advise, but your REALTOR knows the market and what it will take for you to find the right home and have your offer accepted. They can always give you recommendations on reputable lenders and will even know about state or county Bond Initiatives that you may qualify for. (Note: Not all Lenders participate in these Bond Programs, which can give certain buyers several thousand dollars towards closing costs or down payment). Your REALTOR will also lay out the steps necessary in the process. Its important to note that the real estate market shifts. In a Seller's Market, inventory is tight and you will likely be competing with other qualified buyers. In a Buyer's Market, there is more inventory to choose from so you're likely to get more seller concessions. Do your self a favor and talk to a REALTOR First - After all it doesn't cost you a dime!
#2 Trusting On-Line Home Values
Searching for homes online is a a GREAT idea. Looking at listings online can give you a really good idea of what is out there. Just don't put too much faith in the accuracy of the information. Home value estimates are often incorrect. They rely on an algorithm and can be very inaccurate. An appraiser is not going to go by these value estimates. You shouldn't either!
#3 Getting Too Emotionally Attached
You've found your dream home and you're so excited you can't stand it. Your REALTOR submits your offer and you get a call the next day saying the seller has accepted another offer. You'll may feel devastated. DON'T ! This often happens in a seller's market. Stay focused and press on. It will pay off. You'll find the right home for you and your family.
Search Tampa Bay Homes
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