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Looking for a home without getting pre-approved
by a lender. When you are pre-approved, you are effectively
a cash buyer. The seller knows that financing is less
likely to slow down the process. This makes it much easier
to negotiate with the seller. Do not mistake pre-approval
with pre-qualification; pre-qualification is only the first
step in gaining pre-approval. Ask your financial consultant
or Great Beginnings Realty for details.
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Failing to check out the neighborhood
thoroughly before buying. How do traffic patterns change
depending on the day of the week, or even the time of day?
Are there any future developments in the works? Ask around
-- check it out first. While a Real Estate agent is not
allowed to indicate if a neighborhood is "good" nor not (for
among the reasons -- what is "good", or desirable, to
one person may be "bad" or unwanted to another), click here
to get some ideas on how to "know the neighborhood".
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Making an offer based on the asking price,
not the actual market value. Do your homework. What
have similar properties sold for in the immediate area?
How long were they on the market? How does this one compare?
Is it over-priced, under-priced, or fair value? Ask Approved
Realty for an up-to-date market summary if they are representing
you as a buyers agent.
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Letting "first impressions" affect your
decision too much. There are entire books written
on how the first impression of a home is the single most decisive
factor affecting many purchasers' decision to by. Don't
let bad décor or messy housekeeping
scare you away from a structurally solid home that meets all
your needs. Remember, you are buying the house, not the
furnishings.
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Not shopping for home insurance until
your are ready to move. If you wait until the last
minute, you will be rushed in finding insurance. Allow
time to shop around and get the best deal.
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Signing documents without reading them.
Do not wait until the last minute before reading the documents;
there probably will not be time. Try to get copies of
all documents early on in your home search so that you can peruse
them at you leisure.
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