More Mistakes Made when Buying a Home

This is a continuation from my first blog of mistakes people make when buying there first home. Here are a few more common mistakes people make:

Always look out for misplacing your trust. No matter how much you like the people around you who are assisting you remember that you are dealing with a business transaction. Make sure to do all your own research first hand so you are not relying on other people to tell you the truth.

Another mistake people make is not getting everything in writing. Just because you think you have an oral agreement does not make it binding unless it is in writing!

Always look out for the fine print! Before you sign anything take the time to read through all of the fine print and ask questions before you sign anything.

Never buy a home that cost 50% more then the other homes in the neighborhood. The lower home values around you will bring your home value down. Make sure to research the neighborhood pricing.

Protect yourself by having at least 2 of these 3 contingencies in your offer. Mortgage Financing- make sure you have a formal appraisal of the home. If the house appraises for less then the amount of the loan the loan may not go through! Inspection- never buy a home with out having it properly inspected. Listen to the concerns of the inspector before making a decision. Insurance- make sure that you can get the proper coverage of home insurance.