As a real estate professional with a stellar track record shared by only a handful of real estate professionals globally, I’m here to warn you about these 5 home buying mistakes. With a little preparation, including finding the right agent, you could be moving into the home of your dreams, like the Modern Sonoma Barn pictured here, with no distress.
1) Don’t negotiate the price after making an offer.
Today in the state of California, luxury homes are selling for more than asking price. I’ve heard of some buyers who win a bidding war only to attempt to negotiate the price down during escrow. Instead, I tell my clients to make their best offer in the first place and stand by that price.
2) The correct timing for credits.
Yes, it’s true that a buyer should ask for credits, especially if costly repairs turn up in an inspection. Just make sure NOT to make excessive demands at the last minute.
3) Forget making a deal.
In my experience, if the home you want is well priced in today’s market, is located in a good neighborhood and doesn’t need much work, the best strategy is to make a solid offer. You may even need to be prepared to go over asking if necessary.
4) You can’t do it all yourself.
Take my word for it; you need the help of a professional real estate agent, even if you are tech savvy. A good agent will know about the market better than an uninformed buyer (or the internet).
5) Consider the seller when you’re the buyer.
The last thing you want to do is purchase a home that is difficult to sell. You may be in the seller’s shoes someday, so choose a property wisely.
Avoid these 5 home buying mistakes by knowing about them ahead of time. If your home search brings you to Napa or Sonoma Valleys, please contact me at 415.516.3939 or email me at Ginger@GingerMartin.com.