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:Leslie Fogle Phone: 214-364-5888 Dated: January 31st 2013 Views: 3,990 About Leslie: I was born and raised in the Central Valley of California. I attended California State University, S...
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.
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"When purchase my first home Gary's advice was invaluable. He spent hours with me driving around to different areas trying to find the perfect part of town and the perfect home. Finally he did push me out of my comfort zone and I ended up finding the perfect place outside of where I thought I wanted to be.
When actually negotiating on the home and working with the inspectors, I was extremely impressed with his knowledge of the process and what I did and didn't need to be worried about with the inspection process.
Overall I had a great experience purchasing my first home with Gary. I would completely recommend him to first time buyers. He is great at holding your hand and not making you feel like an idiot with all of the first timer questions."