Mistake #1:
Not knowing how much home they can afford before they make an offer.The easiest way to avoid this mistake is to get pre-approved for a mortgage by a lender so you know in advance exactly how much you can afford.
Mistake #2:
Not realizing in advance who the real estate agent represents. Most people
think that the Portland agent they are working with is working for them. But
unless they are working as your buyer representative, they represent
the home seller.
Mistake #3:
Not realizing that the wrong mortgage can cost thousands of dollars in needless
interest and taxes.
Check with your accountant before you make your final decision on which mortgage
you are going to choose. Your CPA will be able to tell you what the long-term
effects will be on your income.
Mistake #4:
Not discovering hidden defects before they buy a home. One of the most expensive
mistakes is also one of the easiest to avoid, by having a professional pre-purchase
home inspection.
Mistake #5:
Not knowing how much credit can affect their ability to buy or refinance a
house. Before you buy a home, many of the clouds on your credit history can
be cleared up or even eliminated. Your mortgage professional can help you
review and prepare your credit file in advance.
If you're interested in learning more about Home buying Mistakes to avoid, sign up for our next Portland Homebuyers Seminar.
Contact us by email or give us a call at 503-495-3288.
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