10 mistakes OC home buyers make
Below are 10 mistakes OC home buyers make when buying real estate. Buying and selling real estate are major events. When buying a home emotions can run high and it’s important to hire a professional to guide you and point out the pitfalls.
Prequalification | The first of 10 mistakes OC home buyers make
Firstly, loan qualification should be obtained prior to viewing homes. This is critical to avoid delays when you find the right property and want to act quickly to make an offer. Buyers that are ready will have the best opportunity to get their offer accepted quickly.
Order your Appraisal Early
Another important task is to order the appraisal early. Imagine you are in escrow and you paid your earnest money deposit to escrow. If you do not get the appraisal ordered in time and the property does not appraise, your deposit will be at risk. Therefore, the buyer may not wish to continue or the lender may not fund the loan if the appraisal is problematic. This is why it is important to get the appraisal ordered early to tackle these challenges early in the process.
Read Your Disclosures
The next recommendation of 10 mistakes OC home buyers make is to be sure to read all disclosures thoroughly. Pay attention to all aspects of the property. The sellers shall provide all relevant information to homeowners that can effect the desirability of the property. Be sure to
Read your Contract
Read all of the terms of the contract and ask your agent if there are terms you do not understand. It is important to know the details of your contract. You may not be familiar with this document but your agent uses it often and can help you understand the terms of your transaction.
Property Taxes
Buyers can look up the property taxes on a home prior to purchasing. OC Property taxes are easily found online here and reviewing them before you make an offer can eliminate surprises and ensure your escrow process goes smoothly. You do not want any late surprises in the escrow process. Knowing all the information early on can help eliminate late surprises.
Know the Comps
One of the 10 mistakes OC Home Buyers make is make is not running the comps on a home before making an offer. You need to know what the home is worth before you make an offer.
Agent Selection
Make sure you choose the right agent. To see if we are the best fit for you contact us today .
Home Inspection
Order a home inspection. It is worth knowing what could possibly be wrong with the home so you know what it will cost you to repair it. There are so many possible issues that need to be looked at before it is too late.
Final Walk Through
Do not forget to conduct a final walk-through. You must verify that the condition of the home is still as it was when you opened escrow. Also see if repairs were completed on time. This is your last chance to verify before closing. After all is said and done, try to finish strong and not make this mistake OC Home buyers make of forgetting to do a final walk through.
Order a Termite Report to avoid one of the 10 Mistakes home buyers make
Request a termite report in your offer. The seller usually pays for it and it is important to know the condition of the home.
Hire a Professional to Avoid 10 Mistakes OC Home Buyers Make:
In addition to these 10 mistakes OC home buyers make there are many others. But these are among the most common and an experienced agent can help guide you through this process and avoid potential pitfalls. Emotions run very high when buying or selling a home. Many buyers work full-time jobs and do not have the time to focus on every detail of their real estate transaction.
Real estate professionals are accustomed to dealing with contracts disclosures, contingency timelines, home inspection reports, appraisals, natural hazards on disclosure reports, termite reports, lender pre qualification letters, property taxes and more. We look at these forms every day and we are very familiar with them. We are better prepared to point out errors or potential pitfalls a buyer may face. This is why it is crucial to hire an experienced agent and work with someone who will help you avoid these mistakes.
Contact us to avoid the 10 mistakes OC home buyers make
Please watch our video above about 10 mistakes OC home buyers make when buying real estate and call Jesse Madison at 949-306-8416 to help you achieve your real estate goals in Orange County, CA. Remember to avoid these 10 Mistakes home buyers make when buying a home.
