First Home, First Loan

Helping to make home ownership a pleasant reality
Find A Mortgage Now!
Find A Realtor Now!

Free Newsletter

The Real Estate Report

newsletter

Get Your Free Copy:

Email

The Most Common Buyer Mistakes

posted by Stephen Katz @ 4:09 PM
Wednesday, September 27, 2017

Today we will be talking about some common mistakes that we often see buyers making. Hopefully, by alerting you to these potential downfalls, you can avoid them yourself when it comes time to buy. Here are the 5 most common mistakes we’ve been seeing:

1.  Not getting pre-approved. Getting pre-approved by turning in all of your financial documents to a lender is essential. Without one, your offer won’t be as good in the seller’s eyes, and you really have no idea what kind of home you can actually afford. A pre-approval gives you a great view of your financial picture.

2. Bidding aggressively on the perfect home. If you find the perfect home, that is not the time to bid aggressively. If the home is in good condition and appears to be priced correctly, bid closer to that price. Look to your Realtor for pricing guidelines.

3. Not bidding on the perfect home when they have the chance. If you have the chance to make an offer on your dream home, do it. You’ve got 10 days to do your due diligence on the home to make sure it actually is the perfect one for you. If it’s not, oh well. At least by making an offer, you have a chance to get the home. If you don’t make the offer, you may miss out on it, which has happened to a lot of our clients.

4. Expecting the home to be perfect. Understand that the home is complex. People have lived in it and there is always going to be a little wear and tear on any home. Usually it’s nothing major, just little cosmetic things. The important thing is making sure the home is structurally sound.

5. Not understanding their mortgage. Sometimes buyers don’t realize how much money they actually need until the last minute. We, the lender, will go over the actual costs with you, so you know exactly what you are going to have to have on hand as far as cash goes.

If you have any questions for us about this topic, or if you are thinking of buying a home yourself, give us a call or send us an email. We look forward to speaking with you!

 

Stephen Katz

(770) 309-0939 (direct) or (866) 742-8400 -- For the past 18 years, Stephen Katz has built a successful business almost entirely on referrals. As your mortgage consultant throughout the home loan process, Stephen will explain the pros and cons of all available mortgage programs and help you choose the financing option that is best suited to your needs. Throughout the loan process, he will keep you informed and will respond quickly to your requests with answers and solutions. Consistently a top producer, Stephen is a Mortgage Bankers Association "Diamond" Award winner, a Georgia Mortgage "Top Gun" and has closed almost half a billion dollars in loans. Put his knowledge and experience to work for you!

More Posts - Website

Comments are closed.

First Home, First Loan is proudly powered by WordPress