Merry Anne Stone, R, ABR, e-PRO, SFR The Key to Happiness is Elevation!

Avoid The Most Common Buyer Errors

Shopping for a new home is an emotional experience. It’s also time consuming and  comes with a myriad of details. Some buyers, however, caught up in the excitement of buying a new home tend to overlook some items. Their home purchase turns into an expensive process. These errors generally fall into three areas:

  • Paying too much
  • Losing a dream home to another buyer
  • Buying the wrong home

When you have a systematic plan before you shop, you’ll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:

Bidding without sufficient information
What price do you offer a seller? Is the seller’s asking price too high? Is it a deal? Without research on the market and comparable homes, you could lose thousands of dollars. Before you make that offer, be sure you have researched the market. A professional realtor, can offer an unbiased opinion on the value of a home, based on market conditions, condition of the home and neighborhood. Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity.

Buying a mis-matched home
What do you need and want in a home? Sounds simple. Yet, clearly identifying your needs and bringing an objective view to home shopping, leaves you in a better position. Sometimes, home buyers buy a home that is too large or too small. Perhaps they didn’t consider the drive to work, the distance to school, or the many repair jobs waiting for completion. Plan ahead. Use your needs list as a guideline for every home you view.

Unclear title
Before you sign any document, be sure the property you are considering is free of all encumbrances. As part of their services, a realtor can supply you with a copy of the title to ensure there are no liens, debts, undisclosed owners, leases or easements.

Outdated survey
Before the purchase is completed, an updated survey is essential. This report will indicate boundaries and structural changes (additions to the house, a new swimming pool, neighbor’s new fence which is extending a boundary line, etc.).

Unexpected repairs
For $300 - $500 a professional inspector will conduct a thorough inspection of the home. This way, you’ll have an idea of the cost of future repairs. Make the final contract subject to a favourable report.

Shopping without pre-approval
It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.


Merry Anne Stone, RB, ABR, e-PRO, SFR
Proud to be a REALTOR®!


Hawaii Life Real Estate Brokers / 7 Puako Beach Drive, Kamuela, Hawaii 96743 / Office # (808) 960-2082 / (800) 667-5028
 
©2014 Hawaii Life Real Estate Brokers, All Rights Reserved.
Hawaii Life Real Estate Brokers  is an Equal Opportunity Company.Hawaii Life Real Estate Brokers  fully supports the principles of the Fair Housing Act (Title VIII of the Civil Rights Act of 1968). This website shows properties represented by Hawaii Life Real Estate Brokers . but also properties represented by other members of Hawaii Information Service. Some information appearing on this site has been obtained by third parties, and while deemed to be reliable, is not guaranteed.

Hawaii Real Estate  |  Current Listings  |  Kailua-Kona Oceanfront  |  Can You Afford It?  |  Customized Search  |  Why Use an ABR?  |  Why Use an "SFR"?  |  For Sellers  |  Selling   |  Home Evaluation  |  6 Simple Steps  |  Avoid Buyer Errors  |  Moving Your Pets  |  Local Phone #s & Info  |  Volcano & Lava Info  |  Big Island Maps  |  About Hawaii  |  My Bio  |  Contact Merry Anne
 

Privacy Policy  |  Site Map  |  Profile  |  Sign In

Choose language: