#1: Know how much you
can afford before making an offer.
The easiest way to avoid
this mistake is to get pre-approved
for a mortgage by a lender so you know
in advance exactly how much you can
afford.
#2: Confirm in advance
who the real estate agent represents.
Most people think that the agent
they are working with is working for them.
But unless they are working as your buyer
representative, they represent the seller.
#3: Choose the appropriate
mortgage.
Check with your accountant before
you make your final decision on which mortgage
you are going to choose. Your CPA will be
able to tell you what the long term effects
will be on your income.
#4: Inspect for hidden
defects before buying the home.
One of the most expensive mistakes
is also one of the easiest to avoid, by having
a professional pre-purchase home inspection.
#5: Investigate and clear
up your credit.
Before you buy a home, many
of the clouds on your credit history can be
cleared up or even eliminated. Your mortgage
professional can help you review and prepare
your credit file in advance.
