According to the National Association of Realtors, their agents continue to see home buyers making the same 4 mistakes in the process of purchasing their new home. Read these carefully so you do not make the same mistakes when purchases your Boston home.
1. Don’t have an unrealistic time table on closing the deal. If you are preapproved and everything is fairly straightforward, you can probably close in 30 days, however you are better off using 45 days for the closing, maybe even as much as 60 days to be safe.
2. Ignorance about the types of financing available and whats involved in the financing process. Buyers should become aware of the terminology for example. Also, buyers should be careful about what they say in front of lenders and lenders agents. Example: Dont ever tell a lender that “this is my first time and I really dont know how this process works and hope you can guide me through it”. You might as well tell the lender to “sock it to me” and charge me all you can.
3 Don’t trash the home you are trying to buy in front of the seller. If you like the house and the color is pink, just keep quiet about the color and dont keep talking about how you hate the color or could the seller repaint the house a different color. Stress what you do like about the house..all the good things.
4 Forth and probably the worst of all: buyers continue to get in over their heads, and spend more than they anticipated or planned on. Keep on track! Dont forget that you must be able to have a reserve fund for things that will come up like unplanned repairs and fixes you will have to take care of from time to time.