Here are nine mistakes buyers and sellers should avoid in this market.
Are you looking to buy or sell a home? Both are exciting processes, but there are a lot of pitfalls you can stumble into if you aren’t careful. That’s why today we want to go over nine common mistakes buyers and sellers should avoid in this market:
1. Overpricing your home. Just because we’re in a seller’s market doesn’t mean you can price your home however you want.
2. Underbidding on your dream house. Just a few thousand dollars can be the difference between you and the home of your dreams. In this market, you should make a good offer upfront if you love a home.
3. Not understanding the contract you’re signing. No matter what type of contract you sign, make sure you know what’s in it. You’re legally bound by it, so double-check before putting your pen to paper.
4. Buying without a warranty. Demand is high, and supply is low. This means sellers aren’t doing a ton of repairs on their homes. Warranties will help protect you against any issues sellers got away with not fixing.
5. Waiving the home inspection. This one is similar to number four. It’s tempting to waive this to make your offer stand out, but you’re asking for trouble if you don’t get an inspection.
6. Not being upfront about previous property inspections. If someone does an inspection on your home and finds some issues, make sure you’re honest to others about what they found.
7. Leaving your disclosures incomplete. Disclosures don’t just protect the buyer; they also protect the seller from legal liability.
8. Not being transparent with your Realtor. If you want something in a home or your deal, you need to tell your agent. Their job is to get you what you want, but they can’t do that for you if you don’t tell them what you need.
9. Not choosing the best Realtor. Buying or selling a home is a big deal, so make sure you have the best representation you can find.
If you have any questions about today’s topic, please give us a call or send us an email. We are always willing to help!