DANGER! – 5 shopping traps to avoid!

Which of these mistakes will you make? Buying your home will be the biggest investment you’ve ever made. For the uneducated and uninformed buyer, this process can be too costly and emotionally draining. In this article, we’ll uncover the 5 most common and costly shopping mistakes and hopefully educate you so you can avoid them.

Buyer Trap #1: Not Getting Mortgage Pre-Approval

In some areas, a seller may not even deal with you until they can verify that they can actually
afford to buy your house. For them, a pre-approved buyer is essential. But even in cases
where pre-approval is not required, it is advisable to check with a reputable mortgage
company and receive prior approval. Especially considering that the pre-approval process is fast.
and easy… not to mention FREE!
Once you get pre-approved, you can start your home buying journey with confidence.
knowing that once you find your dream home, getting the money to buy it will be easy
Let’s go!

Buyer Trap #2: Undisclosed or “Hidden” Costs

Identify and understand all charges and fees well in advance. Many times, at the close, you
uncover fees you may not have been aware of previously, sneaking their way into your loan
closing documents. These rates, in many cases, are standard and include items such as
subscription fees, document preparation fees, and loan disbursement fees.
TIP! – Any reputable lender will provide you with a “good faith estimate” of fees well in advance
of the closing date. If you are not sure why you are being charged a certain fee, always
ask. A good lender will take the time to explain all fees and charges to you.
Buyer Trap #3: Not Developing a “Home Buying Strategy”
How confident are you that you are getting the best deal on your new home purchase? are you just
taking the word of the Real Estate Agent or the Seller? It’s possible that the house you thought was
such a great deal is actually priced hundreds or even thousands of dollars more than it should be.
Market conditions fluctuate constantly in this area. Requires intimate knowledge of the locale.
internal market to be able to bid correctly on any home purchase. Unaware of the present
market conditions, you will be bidding blind. This can lead to one of two situations:

a) Offer too much and spend thousands of dollars; Prayed

b) Bidding too low and not bidding competitively

Don’t let this happen to you. Develop a home buying strategy today. At the end of this report,
you’ll learn how you can develop a home buying strategy… for FREE.

Buyer Trap #4 – Hidden Repair Costs

Obviously, not all salespeople will be eager to point out every problem or potential repair job they have.
exists on your property. It is essential that you know these problems before your purchase
the house so you can negotiate a lower price, or at least anticipate repairs. why wait and be
Surprised by hidden repair costs shortly after moving into your new home?
Our advice: Hire an independent inspector to do a thorough home inspection. After,
make the final contract dependent on the inspector’s findings. In most cases, the inspector can
provide a report of all items that need repair and help you estimate the costs involved with
those repairs.

Buyer Trap #5: Survey and Title Issues

Request an updated property survey that clearly marks the boundaries of your new home. Also,
make sure that early in the negotiation process you request a title search of the property to
make sure you will own your new home after the purchase is complete. The property
survey, if up to date, will show you any structural changes, property additions (such as swimming
pools) or other features that are too close to or extend beyond the property line. If these are out of
regulation, you could be fined.

The title search will help you make sure there are no liens, easements, or undisclosed owners.
attached to the property. Play it safe and apply early. Any good mortgage company
will provide this service, for a fee during the loan process.

We urge you to develop a home buying strategy today:

– How to get pre-approved for your home loan

– How to avoid buying the wrong home for your needs

– How to ensure that the seller complies with all the terms of the contract

– How to choose a loan program that suits your lifestyle

– How to correctly choose a Real Estate Agent

– How to guarantee the lowest final cost in your

home loan or earn $100 in the process.

PS A year from now, you’ll look back on this as one of the best decisions you’ve ever made.
done.