7 Common Home Buying Pitfalls!

A lot of people experience anxiety during the home buying process. Yet, so much can be prevented by a better understanding of what to expect. Let's explore 7 common home buying pitfalls together to keep you from going down the rabbit hole! **Timeline and more information below**
#HomeBuyingMistakes

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In practice, I share with my clients to simply #JTAB = Just Take a Breath it'll be alright as we move forward together. Remember, FEAR = False Evidence Appearing Real. What's the best way to replace FEAR? With knowledge and you're doing that right now. Kudos!

What you'll learn:
1. Common home-buying mistakes and how to avoid them!
2. First time home buyer advice. Just take a breath, keep your cool, and reassess the situation balancing your thoughts and emotions in line with what's most important to you!
3. What you should avoid when buying a house and what you need to know how to buy a house!

NOTE: To adjust video speed for your listening/ viewing pleasure, please use the settings icon on the bottom right of your screen. It looks like a gear. =)

Timeline:
1. 0:51 - Missed Deadlines!
A real estate contract is legally binding with many home buying contingencies to protect you and contingencies that protect the home seller too. It's important to keep your closing process on track by knowing when the deadlines expire and what happens next when closing on your new home. Get with your trusted real estate advisor to know what contingencies you have, when they expire, and what it means to you.

2. 3:10 - Horrible Home Inspection!
Just to be clear, we're not talking about a home inspection revealing normal home maintenance issues or items that can easily be addressed. WE're talking about when major issues are uncovered like: structural issues, major electrical or plumbing problems, etc...

3. 5:01 - Mortgage Issues!
This is one of the biggest home-buying mistakes! Too often, people contact someone from an advert, answer a few questions, and believe they have a home a loan pre-approval letter. Or they believe they are going to get the interest rate advertised. Getting a home loan is a process and one many buyers get wrong buying a house. Listen to your trusted real estate advisor and ask them to introduce you to a reputable lender that will explore your home loan options with you honestly to help you make a well-informed decision that is right for you! Equally as troubling, is the home buyer that applies for new credit during the closing process. Doing so can kill your deal and cost you money and your new home!

4. 9:24 - Low Appraisal!
Let's get real, there's a significant difference between what a home should be selling for and a low appraisal. Many people mistake the appraiser's determination of value as a low appraisal. Both sellers and buyers need to realize this and do the right thing by each other in the closing process.

5. 12:19 - Title Problems!
Your new home will need to have a "free & clear" title to transfer to you. If the seller can't make good on this, it could kill your deal!

6. 14:16 - The buyer or seller get cold feet!
Both the buyer and seller would be wise to have a heart to heart conversation with themselves BEFORE buying a house or selling a home. This one is entirely on the buyer or seller in this case. Get clear on why you're buying a or selling a house before going into action!

7. 18:14 - Selling and buying a house at the same time setbacks! Also known as a "contingent upon sale."

Thank you for watching! =)

Enjoy an amazing day!
Andrew Finney
#AndrewFinney
AndrewFinneyTeam

Disclaimers/ Credits:
At the time of production, Andrew Finney, S.0173260, is a real estate salesperson with King Realty Group in Las Vegas, NV.

Andrew's videos are his own and do not necessarily represent the views and/ or opinions of KRG.

The purpose of Andrew's videos are to educate you and help you make sense of the real estate process. If you have questions about home loans, real estate, taxes, financial advice, real estate law, insurance, professional trades, or any other services where you live, you are advised to reach out to the appropriate professional for further counsel about your own unique situation.

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Видео 7 Common Home Buying Pitfalls! канала Andrew Finney Team