Yes, we can!
September 4th, 2010 
Tino Sequeira
647-207-8466

Real Estate Sales Representative

"As one person, I cannot change the world, but, I can change the world of one person." - Paul Shane Spear
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Following are ten common mistakes that many home buyers make:

  • Deciding to buy a home without reviewing all their financial assets and options.
  • Starting the process of buying a home, without first getting a mortgage pre-approval. This is one of the most important steps in the buying process, since if the buyer does not get mortgage pre-approval before looking for homes, the seller will not negotiate seriously since they believe that the buyer will be wasting their time.
  • Looking at various newspaper ads and other postings which do not show the proper address nor give the MLS numbers. Many of these postings are either old or a "set up" by unethical realtors who practice the "fish and grab" technique. Many are not true listings of homes, but, rather pictures to entice gullible buyers to call them. Once buyers call the REALTOR®, he or she will tell the caller, that property has been sold, and a similar one is available, etc.
  • Not deciding nor informing the REALTOR® on the area and type of home (i.e. freehold town home, condo town home, semi detached, or detached home, etc.) they would like to buy once they qualify.
  • Not seeking a REALTOR® who has good credentials and references.
  • Not asking the right questions to the REALTOR®. (For further information on asking the right questions, please check 20 Questions to ask your REALTOR®).
  • Listening to the real estate advice of unlicensed people without corroborating the facts with a licensed and ethical REALTOR®.
  • Not receiving a plan of action from the REALTOR® which outlines the strategy the REALTOR® will use to find the buyer their dream home sooner than later.
  • Not having liquid cash in the bank to first pay the deposit that accompanies the offer and then the amount towards down payment.
  • Buyers who are represented by a Buyer Agent contacting the Seller Agent directly for information on the seller's property. This ultimately goes against the interests of the buyer since the seller and the Seller's Agent realizes that the buyer is desperate to buy the seller's property and the latter will not negotiate in good faith.
The above mistakes sometimes lead to the home buyers not getting the right home or paying more than what the REALTOR® could have negotiated at the time of making the offer. They also cause wastage of time to search for properties which are not "real" since the home buyer saw the "bogus posting" on some publication which is not true. Very often, home buyers complain about unethical and "pushy" real estate agents, which could have been avoided if the home buyer had asked the right questions. Finally, to avoid the "home buying stress" it is recommended to avoid the above mistakes as much as possible.

If you too need my help or even just advice about buying or selling at this time of economic uncertainty, just complete the CONTACT form and let me know how I can help you with your real estate questions.

Select "Common Mistakes that Most Home Sellers Make" for tips on how to avoid Home Selling mistakes.
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