Mistake #1:

Not knowing how much they can afford to pay for a house before they make an offer.

Prevented By:

Obtaining pre-approval for a mortgage from a Lender, so you know in advance exactly how much you can afford.

Mistake #2:

Not finding out in advance whom the real estate agent represents.

Prevented By:

Asking your Realtor. Most people think their agent is working for them. But unless the agent is working as your buyer representative, he/she represents the seller.

Mistake #3:

Not realizing that the wrong mortgage can cost thousands of dollars in unnecessary interest and taxes.

Prevented By:

Consulting with a mortgage consultant, accountant, and/or financial planner before making a final decision on which mortgage to choose. CPAs can tell you the long-term effects on your income.

Mistake #4:

Not discovering hidden defects before buying a home.

Prevented By:

Hiring a professional to conduct a pre-purchase home inspection.

Mistake #5:

Not knowing how debt can affect their ability to buy or refinance a home.

Prevented By:

Asking your mortgage professional to help you review and repair your credit file in advance.

This report courtesy of
Susan D. Herlong LTD RE/MAX Results