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Mistakes to Avoid-Buyers
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Not getting "Pre-Approved or Pre-Qualified" for your loan-The Seller and its Real Estate Agent will be more comfortable accepting your bid if they feel that you will not have any problems in getting a loan. It is important that the Lender does a lot of closings in the local area. This way the Seller and its Real Estate Agent will know that the Lender is good and reputable
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Using an Internet Lender-Because there is little accountability in or knowledge of the local area, we have had many problems with these types of lenders.
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Not asking enough questions-You are not supposed to know everything about or be an expert in buying a home.
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Not using a Qualified Professional-See Hiring Qualified Professionals
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Not being present at the home inspection-While a report may be thorough, your inspector might be able to provide some insight and a few pointers regarding the house. The inspector can also provide an opinion regarding some preventative or remedial measures. Further, things are often not as bad when you see them "live" as opposed to a written report
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Not being thorough when you inspect the house-Since you generally take the property "as is", you don't want to find out after you've purchased the house that there are problems. Look behind furniture and under movable rugs.
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Not transferring funds into your bank or liquidating assets in time-It may take more time than you think to get funds into your account or for checks to clear. Further, if you have to liquidate assets (i.e. stocks) the process can take a few days and you may still need additional time for the check to clear.
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Making moving plans without consulting your Attorney-Your Attorney is probably in the best position to let you know if a date is realistic. While the Seller or others may feel that the closing could happen at a certain time, there may be legal or other issues being worked on that they don't know about.
See Also