Don't Make these Mistakes When Buying Or Selling A Home

For Home Buyers:

For Home Sellers

Mistake # l:

Not knowing how much you can afford before you make an offer.

The easiest way to avoid this mistake is to get pre-approved for a mortgage by a lender so that you know in advance exactly how much you can afford.

Mistake # 2:

Not realizing in advance who the real estate Salesperson represents.

Most people think that the representative they are working with is working for them. But unless they are under contract as your buyer representative, they represent the seller.

Mistake # 3:

Not realizing that the wrong mortgage can cost thousands of dollars in needless interest and taxes.

Check with your accountant before you make your final decision on which mortgage you are going to choose. Your CA will be able to tell you what the long term effects will be on your income.

Mistake #4:

Not discovering hidden defects before you buy a home.

One of the most expensive mistakes is also one of the easiest to avoid, by having a professional pre-purchase home inspection.

Mistake #5:

Not knowing how much your credit can affect your ability to buy or refinance a home. Before you buy a home, if you've had the misfortune to have had a cloud on your credit history this can be cleared up or even eliminated. Your mortgage professional can help you review and prepare your credit file in advance.

Mistake #6:

Not using a Realtor to assist in your financing.

Banks and Realtors have a strong relationship. The banking community acknowledges the professional advice provided by the real estate agent and when referred customers call the bank they are given preferential rates and service.

For Home Sellers:

Mistake # 7:

Basing your asking price on needs or emotion rather than market value.

Many times, people make their pricing decisions based on how much they paid for or invested into their home. This can be an expensive mistake. Over priced homes take longer to sell and eventually net the seller less money. Consult with a professional real estate agent. They can assist you in pricing your home correctly from the beginning.

Mistake # 8:

Failing to "Show-Case " your home.

First impressions are the most important. Experience shows that for every $100. in repairs that your home needs, a buyer will deduct $300-$500 from their offer. Thoroughly clean and prepare your home before you put it on the market if you want top dollar.

Mistake #9:

Signing a listing contract with no way out.

Most traditional real estate agents want you to sign a listing contract with no way out. When you list your home with me, you can cancel your listing agreement at any time if dissatisfied.

Mistake # 10:

Choosing the wrong agent or choosing them for the wrong reasons.

Many homeowners list their home with the Salesperson who gives them the highest price, or they list with the representative who works for the biggest company. You need to choose the full time salesperson with the best marketing plan, experience education and energy.

Mistake # 11:

Not knowing all of your legal rights and obligations.

Real estate law is complex. The contract that you will sign when selling your home is legally binding. Small items that are neglected in a contract can wind up costing you thousands of dollars. You need to consult a knowledgeable professional who understands the in's and out's of a real estate transaction.

To Get a Free Mortgage Pre-Approval
A Free List Of Properties Available In Your Price Range
Or a Free Market Value Analysis Of Your Home
Call Eric Auliff at 748-4056.
Email eauliff@sympatico.ca

Eric invests 100% of his time and energy delivering first class service to his customers. As a result, Eric's valued customers, suppliers and friends refer their family, friends, co-workers, neighbours and other people they know to him. Eric is interested in building strong, lasting, lifelong relationships one at a time.

Eric F. Auliff Associate Broker
Royal Lepage Frank Real Estate 224 Aylmer St. North Peterborough, Ontario. email: eauliff@sympatico.ca

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