Top,Mistakes,Avoid,When,Buying finance, share, loan Top 10 Mistakes to Avoid When Buying a Home

Thankfully, there are now several web sites that are there to help people like you with bad credit to find the fast personal loans that you need. When you have bad credit, the first thing that you should be looking for is a loan company that If your financial problems have reached the point where you do not see a way out and you feel as though you are drowning in debt, your best way out is through declaring bankruptcy. Filing may well allow you to get your finances back on track

Buying a home is one of the most exciting things you can do, but don’t letthe excitement overwhelm your common sense. If you’re not an experienced homebuyer then it’s easy to fall victim to these Top 10 Mistakes that HomebuyersMake.1. Buying a home before you are ready for home ownershipLots of people get pressured into buying a home by well meaning friends andfamily who tell them what a waste of money renting is. While renting does notbuild equity, it comes with a whole lot less responsibility and expense thanhome ownership does. Take your time and don’t buy until you are ready to buy.2. “Falling in love” with the house.This happens when we are overwhelmed by the emotional aspects of buying andspurred on by the subtle pressures of the seller and their agent. Just like wetend to overlook the faults of people we love, a buyer who falls in love with ahouse might end up overlooking flaws that will haunt them later.Buyers often find out things after the sale that might have stopped themfrom buying if they knew in advance. Although Agents and sellers are obligatedto disclose certain defects or circumstances about a property, thoserequirements may not cover everything that you’d want to know. After readingthe disclosure list, if any, ask specific questions about anything else that’simportant to you. For example, if the idea of living at a former crime scenesturns you off, ask if any major crimes or incidents occurred at the home.3. Misunderstanding the loyalties of the Real Estate Agent.In most areas the Real Estate Agent represents the seller and not the buyer.That means that you can’t expect the agent to keep anything you say from theseller. If you’re offering 200k, but you’ll go to 210k if you have to, keepthat secret to yourself. If the agent knows your top limit then he or she isactually obligated to tell the seller if that’s who they represent.4. Overpaying because of pressure or deceitful sales tactics.Buyer soften pay more than they have to because they are warned that thereare “other offers” being considered so they need to make their highest offerfirst. That may or may not be true, but never make an offer that’s higher thanyou would make without any outside pressure. An offer is legally binding if it’saccepted and you’ll have to live with that buying price for a long time tocome.Another reason buyers overpay is because they don’t realize that anythingcan be negotiated including closing costs, inspection fees and the price ofrepairs. Real magic happens when a motivated seller and an earnest buyer sitdown to conduct business.5. Failing to get mortgage pre-approval before shoppingBuyers who start the shopping process without being pre-approved for amortgage have a harder time getting their offers accepted and they setthemselves up for disappointment if their dream home turns out to be more thanthey can afford.You also run the risk of not getting the best mortgage deal possible if youare forced to rush into accepting the first offer that you get.6. Failure to get it all in writingBuyers who accept verbal agreements or promises made on a handshake oftenfind that no one remembers that conversation at closing time. If it’s importantto you then get it in writing.7. Not finding defects before you buy.While new homes come with specific warranties and guarantees, you’re usuallyon your own when you’re not buying new. Don’t rely on the word of the seller orthe agent when it comes to ascertaining the physical condition of the home. Protectyourself by writing “Subject to satisfactory property inspection results”on any offer you make and then hire a professional property inspection company.Another word of advice is to find your own property inspector and do notreply on one that is recommended by the seller or agent. Make sure you arethere when the inspector arrives and don’t let the agent or seller have anyconversations with the inspector outside of your presence. 8. Losing control of the transaction.This is going to be your home and buying it is your decision. When you letagents, friends or family persuade you for or against a particular piece ofproperty then you are losing control of the transaction. Just stop, relax, takea deep breath and remember who is in control. It’s you.9. Failure to do your own due diligenceThe chances are your visit to the home of your dreams occurred during thebest time of day, but you’ll be living in that home 24/7. Visit theneighborhood during rush hour, late at night and at other random times. Can youdeal with getting in and out of your neighborhood during your commuting times?Does the sound of the nearby NASCAR track drown out backyard conversation onSunday afternoons?Also make sure that the schools and community amenities suit your needs andlifestyles. Check property taxes and utility bills to make sure that you canafford the cost of living in your chosen community. If you are subject to deedrestrictions or homeowner/condo rules then make sure you can live with them. Evenautomobile insurance rates are affected by zip code so the more you know abouta community the better off you are.10. Buying more house than you can afford.Just because the lender approved you for a certain amount doesn’t mean thatyou can handle the payments. This is especially true if you have alife-changing event on the horizon such as having a baby or changing jobs. Beespecially wary of your payment thresholds if you have an Adjustable RateMortgage because you can bet those payments will be going up a lot sooner thatyou want them to. Don’t forget to factor condo fees or homeowner associationdues into your monthly expenses.