Do you want content like this delivered to your inbox?
Share






Mistakes to Avoid When Making An Offer On A New Home

Share

Mistakes to Avoid When Making An Offer On A New Home

Martin Millner

I've been a full time realtor since 1995...

I've been a full time realtor since 1995...

Oct 30 6 minutes read

You've scoured the new home listings, been to all the open houses and have finally found the home of your dreams. It is now time to draft an offer and begin the negotiation process. Below we'll share four mistakes that you will want to avoid when making an offer on your dream home.

Not Working With A Professional

The first mistake that home buyers make is trying to buy a home without using the services of a real estate professional. Buying a home is a significant financial transaction and one where the seller and their agent are working hard to ensure they come out ahead. Having experienced representation on your side of the table ensures that you won't be taken advantage of.

Skipping The Home Inspection

The second mistake – and one that is more common than you think – is skipping the home inspection. There are countless instances of home buyers thinking that the house looks great on the outside without realizing that there are issues with the roof, the foundation, the plumbing, inside the walls or some other area that's tough to see. Having the house professionally inspected before tabling an offer ensures that issues are fixed up before the transaction is complete. Alternately, if you're willing to move ahead regardless, you can ask for the price to be reduced as compensation.

Not Being Pre-Approved For Financing

The third mistake in our list is making an offer on a home without being pre-approved for the amount of mortgage financing you will need. Regardless of how good your credit is, the mortgage application process is one that can present challenges. Also, many home sellers will require evidence of financing pre-approval before accepting an offer, so it's best to come prepared.

Taking On Other Debts

Once you've decided on the home you want to purchase, you will want to avoid taking on any other debts which can affect your credit score. Don't buy a car, open any new credit cards or do anything else which will show up on your credit report. Once you are pre-approved for your mortgage, you'll want to keep your credit as spotless as possible to ensure that nothing goes wrong.

If you're prepared and clear-headed, the offer process will go smoothly, and you'll soon be moving into your dream home. When you're ready to explore local real estate options in Bucks County,  please  contact me Martin Millner. I can answer any questions you may have about selling or buying real estate in Bucks County .





Click here to find out what’s your home’s worth!









 


You've scoured the new home listings, been to all the open houses and have finally found the home of your dreams. It is now time to draft an offer and begin the negotiation process. Below we'll share four mistakes that you will want to avoid when making an offer on your dream home.


Not Working With A Professional

The first mistake that home buyers make is trying to buy a home without using the services of a real estate professional. Buying a home is a significant financial transaction and one where the seller and their agent are working hard to ensure they come out ahead. Having experienced representation on your side of the table ensures that you won't be taken advantage of.

Skipping The Home Inspection

The second mistake – and one that is more common than you think – is skipping the home inspection. There are countless instances of home buyers thinking that the house looks great on the outside without realizing that there are issues with the roof, the foundation, the plumbing, inside the walls or some other area that's tough to see. Having the house professionally inspected before tabling an offer ensures that issues are fixed up before the transaction is complete. Alternately, if you're willing to move ahead regardless, you can ask for the price to be reduced as compensation.

Not Being Pre-Approved For Financing

The third mistake in our list is making an offer on a home without being pre-approved for the amount of mortgage financing you will need. Regardless of how good your credit is, the mortgage application process is one that can present challenges. Also, many home sellers will require evidence of financing pre-approval before accepting an offer, so it's best to come prepared.

Taking On Other Debts

Once you've decided on the home you want to purchase, you will want to avoid taking on any other debts which can affect your credit score. Don't buy a car, open any new credit cards or do anything else which will show up on your credit report. Once you are pre-approved for your mortgage, you'll want to keep your credit as spotless as possible to ensure that nothing goes wrong.

If you're prepared and clear-headed, the offer process will go smoothly, and you'll soon be moving into your dream home. When you're ready to explore local real estate options in Bucks County,  please  contact me Martin Millner. I can answer any questions you may have about selling or buying real estate in Bucks County .





Click here to find out what’s your home’s worth!


Source
https://realestate.usnews.com/real-estate/articles/7-common-mistakes-seasoned-homebuyers-make
https://smartasset.com/mortgage/10-common-home-buyer-mistakes









 


Selling Your Home? 

Get your home's value - our custom reports include accurate and up to date information.

Get Home Value
We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info