Here are three mistakes buyers make in our market that you need to avoid.
I see buyers making three main mistakes in our current real estate market that you want to avoid:
1. Signing up on multiple websites. I see plenty of buyers going to a slew of websites and registering with their contact information as they’re looking for homes. For every site you sign up with, there are five to 10 real estate agents who have paid that site to get your contact info. You’ll be driven nuts by all the agents trying to connect with you. All those websites get all their housing data directly from the MLS, then present it to you in a user-friendly format. So instead, I recommend finding one agent you can trust and work with and let them be the go-between so you won’t be driven crazy by all the other agents reaching out to you.
2. Reaching out to the agent on the ‘for sale’ sign. Don’t reach out to the agent listed on a sign in the front yard of the home you like. That will impede your negotiating abilities. That agent was hired by that homeowner to get them top dollar and the best deal. The way you can negotiate best is by having your own representation.
3. Not partnering with the right lender. Not having a good lender can cost you money. Many people think a loan is all about the interest rate, and of course, the rate is crucial, but what’s most important is your APR the first year. That allows you to compare apples to apples; you need to know what you’ll pay upfront to get the loan. I can help you, or your trusted agent is a great resource to help you find a solid lender who can provide competitive rates and terms and will close the deal on time. Time is money: If you don’t close or close late, you may be placing your earnest money at risk and/or default on a contract.
If you have questions about these mistakes, another real estate matter, or are considering buying a home, call or email me. I would love to be your residential real estate resource.