Three Mistakes you Don’t Want to Make as a Buyer

So, you’ve decided to go for it and become a homeowner…congratulations! There is no better investment for you and your family to make. Now that you have made the decision to purchase rather then rent, there are a few common mistakes that you want to be aware of.

First, you may think that you don’t need a buyer’s agent to represent you on your purchase; that you will get a better deal if you negotiate for yourself. Nothing could be further from the truth! Typically, the seller pays the commission from their proceeds and with the complexities of the contractual process, you will need a Realtor to negotiate through the process on your behalf.

Second, you may think that you do not need to be pre-qualified by a lender before you begin to look for a home. Wrong! Talking to a well qualified lender to have an idea of the total costs of getting a loan and how much loan you can qualify for is essential to the process. A good lender will make sure that before you get into a contract that you have been pre-qualified and that makes your bargaining power much greater. Knowing that on closing day there will be no surprises will make the process of buying a home the joy it should be.

Last, but not least, you may be waiting until the market drops so you can get a good deal. There are more choices today for purchasers than almost anytime in the past twenty years. There are many sellers that are anxious to find a qualified buyer that is ready and willing to close. With the market conditions being somewhat complex, if you wait on the market to be just right, you may miss the golden opportunity to own that dream home you have always wanted.

As usual, you should contact your Jenny Pruitt & Associates’ agent and/or a Jenny Pruitt Mortgage Services loan officer for any questions you might have.