Here are five mistakes for both buyers and sellers to avoid in real estate.
Whether you are a buyer or seller, there are 10 mistakes you need to avoid to get the best deal possible. We’ll cover the first five today as part one of our two-part series on this topic. Let’s get right into them:
1. Overpricing your property. Just because we’re in a seller’s market doesn’t mean you can price your home for way more than it’s worth. Doing so will cause buyers to avoid your house entirely.
2. Underbidding on your favorite home. You don’t want to lose your dream home because you were short a few thousand dollars on your offer. Even with the market slowing down a bit, this happens all the time, so it’s important to put your best foot forward when making an offer.
3. Not understanding the contract you’re signing. A real estate contract is legally binding to both parties. Ask your agent any questions you have to make sure you fully understand what you’re signing.
4. Buying a property without a residential service agreement. Demand is so high and supply is so low that many properties are sold without this agreement. Depending on you and the home you’re buying, a residential service agreement or home warranty can be a good choice, so make sure you know whether or not you need one.
5. Waiving the inspection. If you buy a property without an inspection, you’re asking for trouble. Even if the home is being sold as is, an inspection is important so you know that the home is in the condition you expect it to be in.
If you have questions about the first part of our list or anything else related to real estate, feel free to give us a call. If you’re planning on moving to another state, reach out to us and we can put you in touch with a great, pre-vetted Realtor wherever you’re going. Talk to you soon!