10 Most Common Mistakes Made Without a Property Agent

10 Most Common Mistakes Made Without a Property Agent

If you are going to sell or buy a new house, then it is very important to know the mistakes that you are likely to commit. Off-course, awareness of these most common mistakes that people make without a property agent will prevent several issues arising in future. So, read the article further to find out the details.

1) When you don’t invest time in sufficient research

When it comes to buying or selling your house, without enough research, you should not expect to have a successful deal. You should be equipped with proper knowledge of the market, especially the prevailing conditions of the market or place where you live.

When you are searching for an ideal home, give enough time in finding out the availability of all the basic amenities, educational institutions, gyms, etc. You should ensure that the place where you are planning to buy a house has excellent connectivity.

2) Not selecting the finance package with care

It is important to be aware of the part of the whole price of the property which you can comfortably afford. Off-course, selecting the right financial mortgage or package for your individual requirements is quite significant.

3) Getting affected by the prevailing conditions of the market

Always remember that ‘what you need’ is more crucial than the ‘condition of the market’.Though sometimes, being knowledgeable about the ‘Market’ can be quite helpful, always waiting for the right time to buy or sell your property is neither a good idea for your family.

4) When you cross that ‘Border line’

Sometimes, buying a costly house can look very tempting, taking into account the additional benefits you might get. But, it is important to mention here that one of the biggest mistakes a buyer can commit is to buy a property that just does not fit in your budget.

5) Getting stuck

When you find your perfect house, the way you show your reactions or emotions to the seller is quite critical. See, the real estate agents can easily read your feelings, so falling in love with a ‘property’ can cost you a lot. You may end up purchasing a house that you cannot even comfortably afford because of the agent’s negotiations skills.

6) When you make decisions completely based on ‘cost’

To some extent, it is quite feasible and practical to consider the price of the property you wish to buy before finalizing anything. But, it would help if you understood the fact that buying a cheap house which does not provide you ‘value’ will not all help.

7) Not setting the budget properly

This is quite obvious. Many buyers fail to calculate the whole cost of the property as they don’t take into account other expense such as loan application fees, insurance fees, stamp duties, etc.

8) Buying the house in frustration

Sometimes, due to misguidance, people fail to find their ideal home and during such times of frustration, the chances of committing a bad purchase are so high.

9) Not hiring a buyer’s agent 

It is important to have a buyer’s agent by your side who can provide you their agent feedback and professional guidance so that you don’t comity any mistake.

10) Not getting everything in written

Now, whether it is a seller or an agent, even if they make any small promise to you, get that in written.

Real Estate Blog

JAG SIDHU

It's my job to know about the latest market conditions, government regulations, and upcoming developments — so that you don't have to.