The homebuying journey can be long and arduous, particularly for an individual who makes mistakes along the way. Fortunately, an informed homebuyer can identify potential problems early in the homebuying journey and take the necessary steps to resolve such issues without delay.

Now, let’s take a look at three common mistakes that homebuyers make, along with the best ways to eliminate these problems before they escalate.

1. A homebuyer spends too much time debating whether to submit a home offer.

The housing market moves quickly, and a homebuyer who hesitates to submit a competitive offer on a residence risks losing this house to a rival homebuyer.

Ultimately, it pays to learn about the real estate market. That way, if you fall in love with a house, you’ll be better equipped than other homebuyers to submit a competitive offer before it’s too late.

Check out the prices of houses in cities and towns where you’d like to live. This may help you narrow your search for the perfect home and provide housing market data that highlights how much it may cost to acquire your dream residence.

Also, take a look at the prices of recently sold houses in different areas. This will enable you to determine whether you’re working in a seller’s market or a buyer’s one.

2. A homebuyer foregoes a home inspection.

Even though a homebuyer may want to rush through the purchase process, there is no reason to forego a home inspection.

When it comes to buying a residence, it is always better to err on the side of caution, and a home inspection offers a valuable opportunity to learn about a house’s condition and uncover any “hidden” problems with a residence.

For example, a home inspection may reveal roof damage that could lead to thousands of dollars in roof repairs in the near future. On the other hand, a home inspection may show there are no major issues with a residence, thereby verifying that a house is a sound investment.

Don’t forget to consider a variety of home inspectors before you schedule a property inspection. This will ensure that you can find a home inspector who possesses the necessary skills and expertise to perform a deep evaluation of a home before you finalize your purchase.

3. A homebuyer tries to purchase a house without support from a real estate agent.

For those who want to streamline the homebuying process, expert help may be necessary. Luckily, you can hire a real estate agent who can help you seamlessly navigate the homebuying journey.

Real estate agents are easy to find in cities and towns nationwide. Meanwhile, these housing market professionals are available to help you narrow your home search, submit offers on residences and much more.

If you need additional help during the homebuying journey, it usually is a good idea to hire a real estate agent. By doing so, you can receive the expert guidance and support that you need to go from homebuyer to homeowner.

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What happens if you receive an offer on your home that fails to meet your expectations? Ultimately, you may want to decline the offer. But before you do, there are several questions you’ll want to consider, including:

1. Is the offer “fair”?

Let’s face it – one home seller’s definition of a “fair” offer may differ from another’s. However, an informed home seller will be able to differentiate a “lowball” offer from a strong proposal.

A lowball offer typically fails to account for a home’s condition and the current state of the housing market. As such, this proposal may fall far below a home seller’s initial asking price.

On the other hand, a strong proposal may meet or surpass a home seller’s initial asking price. This offer likely accounts for a home’s strengths and weaknesses, along with the needs of a both the homebuyer and home seller.

2. Are there any other offers on the table?

If you receive an offer on your home, you’ll probably have one to two days to decide how to proceed. And if you have multiple offers in hand, you likely have a lot to think about in a short period of time.

In some cases, the best offer is not necessarily the highest offer, and for good reason.

For instance, a homebuyer may submit an offer on a home that exceeds a home seller’s initial asking price. But if this homebuyer has not been pre-approved for a mortgage, he or she likely will need to obtain financing to proceed with a home purchase.

Conversely, a homebuyer who has been pre-approved for a mortgage knows exactly how much money is at his or her disposal. When this homebuyer submits an offer, he or she may be better equipped than other homebuyers to acquire a residence.

3. Can I afford to be patient?

Consider your timeline as you debate whether to decline an offer.

If you’re in no rush to sell your home, you can afford to be patient with offers on your house. Or, if you want to relocate to a new address as soon as possible, you should price your home aggressively from the get-go.

4. If I decline an offer, what will happen next?

After you decline an offer on your home, the homebuyer has the option to submit a new proposal or move on to other houses.

As a home seller, it is important to take an informed approach to home offers. With a real estate agent at your side, you should have no trouble making the best decisions on any proposals.

A real estate agent understands the ins and outs of the housing market and can help you evaluate all offers on your residence. He or she can provide you with honest, unbiased real estate recommendations and ensure you can get the best results during the home selling journey.

Collaborate with a real estate agent – you’ll be glad you did. A real estate agent will enable you to evaluate home proposals and maximize the value of your house.

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Hopkinton, MA:

This Single-Family in Hopkinton, MA recently sold for $829,900.
This is a Colonial style home and features 9 total rooms, 3 full baths, 1 half bath, 4 bedrooms, 1.29 acres, and was sold by
Chuck Joseph – RE/MAX Executive Realty

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Hopkinton, MA:

This Single-Family in Hopkinton, MA recently sold for $1,275,000.
This is a Colonial style home and features 11 total rooms, 6 full baths, 2 half baths, 4 bedrooms, 2.15 acres, and was sold by
Chuck Joseph – RE/MAX Executive Realty

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