There are three red flags that buyers need to avoid in today’s market.
If you’re in the market to buy a home, be sure to avoid sending up the following red flags that could delay or even derail your opportunity to purchase:
1. Getting ahead of yourself. Many buyers get really excited to start the home-buying process and get way ahead of themselves. Before you begin searching for a house, you need to address the financial side. If you have enough cash to purchase the home, then you’re good to go, but if not, you need to talk to a lender. They can go over the different financing options available to you and show homes at the price points you can afford. If you don’t do that first, you could end up falling in love with a home that’s beyond your means.
2. Assuming that sellers will foot the bill. Too many buyers think that today’s market is like the ones we’ve seen in years past where sellers would finance closing costs and make other concessions for their buyers. That’s just not the case today. Buyers have to have money in their pocket to purchase, be that money for your down payment, closing costs, prepaids, insurance, and so on.
3. Going directly to the listing agent. Some buyers choose to go directly to the listing agent of the property they’re interested in. The thing to remember is that the listing agent is there to represent the interests of the seller, not you. It’s extremely important to find a buyer’s agent to negotiate on your behalf and help you navigate the transaction.
If you’re looking to buy a home or you have any questions about today’s market, don’t hesitate to reach out to us by phone or email. We’d love to help you find success with your real estate goals.
