Rising rents, low interest rates and bargain home prices have many local residents jumping into homeownership these days. But first-time home buyers in particular should be aware that purchasing real estate can be fraught with all sorts of potential problems.
Here are five of the more common first-time home buyer mistakes:
1. Failing to ask enough questions of their lender.The result: buyers fail to fully understand the commitment they’re making and often end up missing out on the best deals.
2. Not acting quickly enough to make a buying decision on a particular home. By dragging their feet on making an offer, buyers miss out on great properties when more prepared and motivated buyers buy those homes instead.
3. Choosing the wrong realtor.Obviously, not all agents are the same. Your agent should understand your needs, respond to your concerns, answer all your questions, and be available when needed. They should know your local housing market well, be comfortable with technology and be a committed ally to you.
4. Not doing enough to make their purchase offer appeal to the seller. Sellers must be convinced that a buyer’s offer is reasonable and that it is being made in good-faith.
5. Failing to think about resale before they buy. Someday, that first-time home buyer will have to sell the home to someone else. And “someday” may not be far away – statistics show that the average first-time buyer stays in a home for only four years.
Ryan Marzett is a Real Estate Professional that speacializes in providing top level service to first time homebuyers in Plano, Frisco, Carrollton, Allen, The Colony and throughout Collin County and Dallas County.
Author:JP Piccinini Phone: 480-980-9025 Dated: January 31st 2013 Views: 4,130 About JP: JP Piccinini is CEO and Founder of JP and Associates REALTORS (JPAR), Founder and CEO ofOdasi Real E...
JP And Associates REALTORS (JPAR) is one of the top 100 independently owned brokerages in the US. A full service real estate brokerage firm specializing in real estate sales and marketing services with multiple offices across the US and expanding quickly. JPAR is also one of Real Trends top 500 Brokerages in the US for volume and sales and in the top 1% in the US for sales.
Our mission is to provide extraordinary services and exceed our clients’ expectations by always committing to the highest levels of professionalism, ethics and standards in the real estate industry.
JP and Associates REALTORS is a real estate company with a solid structure and foundation built around service and productivity. We believe in providing a fun and rewarding environment for all our REALTORS® and therefore always ready to support our REALTORs® Associates in any market and in any condition. All our REALTORs® will always strive to close more transactions in a given year than the average REALTOR®. Our goal is to recruit and retain the most professional, better trained REALTORs Associates in the local market.
If you are interested in a new career in real estate or already have a real estate license but wish to learn more about our company please contact us directly to set up an interview. We offer our agents a 100% commission plan, company leads, training and mentoring and coaching from TOP Producers with no office, desk fees or monthly marketing fees ever. We are a full service brokerage at a transaction fee cost.
At JP And Associates REALTORS we strive to exceed our Clients AND our Associates expectations.
General Inquiries: email@example.com
Office Number: 1 (800) 683-5651
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""When I decided to sell my house, Mindy immediately put me at ease with her complete and thorough knowledge of the real estate market. I trusted her because I knew she had a strong dedication to her clients and answered all my questions day or night. She is a great problem solver and has the determination to achieve solutions that work for everyone involved in the transaction.""