Four Tips to Avoid Disaster When Buying or Selling Real Estate
Posted: June 18, 2019 by Anna Jotham
We’ve all heard those horror stories about buying or selling a home: buying too high, selling too low, buying a house full of issues, financing that never materializes. Buying or selling a home can be stressful enough without any of those surprises.
Following these four simple tips can help you avoid about 90 percent of the most common problems.
- USE AN AGENT. For most, buying or selling a home is the biggest financial transaction they’ll ever make. It just makes sense to have an expert at your side. Agents can help you determine the market value of a home, negotiate on your behalf and guide you through the process right through closing. You wouldn’t try to navigate a $100,000 legal issue on your own, so it makes sense not to do so with something as important as your home. Agents know the process and have resources to handle the unexpected.
- GET PRE-APPROVED. Though mortgage pre-approvals aren’t ironclad, they do prove a buyer’s ability to secure a mortgage, indicating they are a viable contender in the home bidding process. There’s nothing worse than reaching a deal that’s satisfying to both buyer and seller only to realize it can’t get financed.
- HOME INSPECTION. If you’re making the biggest investment of your life, you want to know exactly what you’re investing it in. A home inspection conducted by an objective professional can help uncover issues that often go unnoticed. Home inspectors look at everything from the structure to the infrastructure of the home, including the foundation, roof, plumbing, electrical, heating and cooling, insulation and much, much more. They’ve been known to spot problems owners never knew existed and can help ensure buyers know precisely what they’re purchasing.
- GET IT IN WRITING. As with any other major legal agreement (remember you have tens of thousands, if not hundreds of thousands of dollars at stake), communicate everything in writing. That includes not just the offer to purchase and closing documents, but everything between.
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