Three mistakes that could ruin your chances of buying your dream home.
Buying a property can be a daunting process, especially if it’s your first time. It’s easy to make mistakes that could potentially cost you the home of your dreams or leave you with a property that’s not worth the investment. To help you with this, here are some of the common mistakes made by buyers that you should avoid:
1. Lowballing on a properly priced property. In a nutshell, lowballing is making an offer that is a significantly lower price than what the home is worth. It’s essential to understand that lowballing creates seller resistance, making it harder for the seller to consider your offer. Your objective should be to get a well-executed offer to make sure you can purchase the home that you want.
“Lowballing creates seller resistance, making it harder for the seller to consider your offer.”
2. Not making yourself available for showings. It’s crucial to schedule showings as soon as possible, as the real estate market can be highly competitive. If you’re serious about purchasing a property, make yourself available for showings, even if it means making some sacrifices. You don’t want to miss out on an opportunity because you were not available to view the property.
3. Thinking that putting in an offer means an executed contract. Many buyers assume that putting in an offer means that they have secured the property. However, an offer is just that: an offer. There’s still a negotiation process and paperwork that needs to be signed before an executed contract can be reached. Be prepared to go through this process, which can take days or even weeks, and don’t assume that an offer guarantees the property is yours. Depending on the tactic you use, you can submit multiple offers and then hear back from the buyer or the seller much later.
To avoid these mistakes, it’s essential to work with a qualified and experienced real estate agent who can guide you through the process—one like myself. If you need any help with your buying plans or have questions about real estate, call or email me. I’m always here to help!