Going through email and ran across a blog that caught my attention. The topic was about buyers on how they will and can ruin their own real estate deals.

Reading through the blog I remembered some of my buyer clients that almost did just that…

Even before most buyers are contacting an agent to help them to facilitated the buy of a home they try to educate them via the internet but sometimes forget the basic first step to get started….mortgage pre-qualification.

Not knowing what they can afford at the beginning and them looking at homes online that are overpriced for their price range will not lead to their desired result. With so many homes now listed as short sale and REO’s (bank owned) a pre- approval is a must to be able to submit an offer and to be able to compete with cash buyers or investors.

With the market as it is today some want to buy a castle for the price of a shack and try to lowball an already lower than market value home, just to have their offer either not countered or not accepted or when they find what they are looking for and do not make an offer because they think they can get a better deal with the next house and house hunting now turns into a marathon and not a sprint.

Eventually they are under the gun, having to move and just buy anything, just to be buying something and many times this might lead to a never ending money pit of repairs and updates.

….then there are the once who expect an undervalued home to have absolutely no issues and it to be in move in condition. They are surprised that the carpet is not clean, not their color choice, that some of the appliances are missing and maybe some drywall has to be repaired, or maybe that the roof needs replacing within less than a year.

…so how to avoid all of the heartaches:

• Let’s get pre-approved! Know what you can truly afford and what you might have to bring to the table at the time of closing. Please do not confuse this with pre-qualification.
• Make a list of what you are looking for in a house. What is most important and what can you live without when it comes down to it.
• What commute are you willing to have? Are you wanting to move to a rural area or are you a city dweller?
• Are you willing to do some repairs? And how much? Or do you want a move-in home.

These are all decisions that should be made even before you start looking for your home and the hunt will go a lot faster and smother….