Shopping for your new Lexington SC home for sale is an emotional experience. It's also time consuming and comes with a myriad of details. Some buyers, however, caught up in the excitement of buying a new home tend to overlook some items. Their home purchase turns into an expensive process. These errors generally fall into three areas:
- Paying too much
- Losing a dream home to another buyer
- Buying the wrong home
When you have a systematic plan before you shop, you'll be sure to avoid these costly errors. Here are some tips on making the most of your home purchase:
Bidding without sufficient information
What price do you offer a seller for there Lexington South Carolina homes for sale? Is the seller's asking price too high? Is it a deal? Without research on the Lexington SC market and comparable homes, you could lose thousands of dollars. Before you make that offer, be sure you have researched the Local Lexington SC Real Estate market. A professional Realtor®, can offer an unbiased opinion on the value of a home, based on market conditions, condition of the home and neighborhood. Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity.
Buying a mis-matched home
What do you need and want in a home? Sounds simple. Yet, clearly identifying your needs and bringing an objective view to home shopping, leaves you in a better position. Sometimes, home buyers buy a home that is too large or too small. Perhaps they didn't consider the drive to work, the distance to school, or the many repair jobs waiting for completion. Plan ahead. Use your needs list as a guideline for every home you view.
Unclear title
Before you sign any document, be sure the property you are considering is free of all encumbrances. As part of their services, a realtor can supply you with a copy of the title to ensure there are no liens, debts, undisclosed owners, leases or easements.
Outdated survey
Before the purchase is completed, an updated survey is essential. This report will indicate boundaries and structural changes (additions to the house, a new swimming pool, neighbor's new fence which is extending a boundary line, etc.).
Unexpected repairs
For $300 - $500 a professional inspector will conduct a thorough inspection of the home. This way, you'll have an idea of the cost of future repairs. Make the final contract subject to a favourable report.
Shopping without pre-approval
It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.
Remember additional cost
Besides the funds for the purchase of a home, you'll need funds for items such as loan fees, insurance, legal fees, surveys, inspections, etc.
Rushing the closing
Before you sign, ensure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Don't rush. You could lose money, financing or even the sale.
Let me help you with a smooth transaction on any Lexington SC home for sale. The choice Lexington Realtor®.
Laura Jefferson
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Welcome to Exit Real Estate, your source for LEXINGTON South Carolina real estate. If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.
In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in LEXINGTON South Carolina with my New Listings Notification.
Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.
In addition, if you have any general questions about buying or selling real estate in Midlands South Carolina,please contact me as I'm more than willing to help.
Please browse my website for listings, reports and important Lexington and Columbia South Carolina real estate information.
Sincerely,
Chip Jefferson
Exit Real Estate Consultants
803-360-0491
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Chip Jefferson
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I'm having some of your issues with buyer education. I have had 2 recently loose thier dream home to another buyer. This was after making every effort to educate them and share the comps.
Laura, these are some great points. I have seen too many people lose the home of their dreams all because they were not educated enough.