Nine Expensive Mistakes Smart People Make When Buying or Selling
New industry insiders report will help you avoid critical small mistakes that cost Fraser Valley home owners thousands.
Whether buying or selling, it is critical that you inform yourself about the factors involved, and the expensive mistakes that can be avoided all together.
Home Buyers Mistakes:
Mistake #1: Not knowing exactly how much they can afford before they make an offer
The easiest way to avoid this mistake is to get pre-approved for a mortgage by a lender so you know in advance exactly how much you can afford. Ask the lender not to just pre-qualify you (over phone or website) have your mortgage consultant verify your income, credit history, down payment and affordability factors - then a written approval and interest rate hold.
Mistake #2: Not realizing in advance who the real estate agent represents
Most people think that the Realtor they are looking at homes with is working for them. But unless they are working as your Buyer’s Agent and you have hired them (in writing - that they are working for you - as a client ) then you may be a NON CLIENT. Hire a Buyer’s Agent to represent you!
Mistake #3: Not realizing that the wrong mortgage can cost thousands of dollars in needless interest
Mortgage brokers can offer many different types of mortgages. Be sure you ask what the final interest rate is after all is said and done (in writing) Also, find out what works best for you for payments – monthly payments versus bi-weekly payments. Ask if there are any other associated costs - fees.
Mistake #4: Not discovering hidden defects before they buy a home
One of the most expensive mistakes is also one of the easiest to avoid, by having a professional home inspection done. If you don't have a home inspection - and you find out the property has issues after you buy it - that could have been easily discovered by a home inspection - these issues become your problem. Call us for a list of the top inspection services in the area and the 4 "loaded" questions to ask prior to hiring an inspection service.
Mistake #5: Not knowing how much their credit can affect their ability to buy or refinance a home
Before you buy a home, many of the clouds on your credit history can be cleared up or even eliminated. Your mortgage professional can help you review and prepare your credit file in advance prior to making an offer.
Mistake #6: Basing their asking price on needs or emotion rather than market value
Many times, sellers make their pricing decision based on how much they paid for or invested into their home. This can be an expensive mistake. Overpriced homes take longer to sell and eventually net the seller less money. Our Free Market Evaluation will give you the info you need. Find out what similar homes are selling for in your area, as well as what your competition is doing.
Don't get scammed by agents who ask you what you want - or offer you a high listing price - then 2-4 weeks later - tell you the market is shifting and ask you for a price reduction. (recently a condo seller (not my client) listed thier property for $450,000 and within 4 weeks was told it was priced too high - to change the price to $350,000 ) This is called buying the listing (get the seller signed up at a high price - then pressure them for price reductions)
Mistake #7: Failing to "Showcase" the home
First impressions are the most important. Experience shows that for every $100 in repairs that your home needs, a buyer will deduct $300-$500 from their offer.
Thoroughly clean and prepare your home before you put it on the market if you want top dollar. We offer our "Room by Room Review" to help you prepare your home for "ShowTime" Check out our Lights - Camera - Action Seller's Stratagies.
Mistake #8: Signing a listing contract with no way out
Most traditional real estate agents want you to sign a listing contract with no way out. When you list your home with me, you can cancel your listing agreement at any time. Ask me for the details.
Mistake #9: Choosing the wrong agent or choosing them for the wrong reasons
Many homeowners list their home with the Listing Agent who tells them the HIGHEST price, or the Realtor who advertises in the paper / or thier face is on a bus or billboard or bus bench. These tactics are used when the realtor has limited repeat and refrerral business (and they need to look for new business) - due to the service they provide (or lack of service)
Since 1995, we have not advertised our homes in the paper. (Old technology) Yet over the past 11 yrs we have had no expired listings. (Industry average is 30 - 50 % expiries - depending on the year). Our homes don't sit for sale - they sell.
Why not choose the agent with the best marketing plan and track record to sell your home. Find out why 91-96% of our business is from introductions and how The Siebert Team has successfullly negotiated over 4000+ contracts (there is a difference between amateurs & marketing experts)
Ask for your Free Buyer's or Seller’s Consultation. My team and I will coach you through the process and give you a world class real estate experience (click on TRUE STORIES and see what our clients are saying)
Call us at 604-859-2341or email us by filling in the form below