Four Mistakes To Avoid When Making An Offer For Your Dream Home

Dated: 10/04/2017

Views: 379

Four Mistakes to Avoid When Making an Offer for Your Dream HomeYou've scoured the new home listings, been to all the open houses and have finally found the home of your dreams. It is now time to draft an offer and begin the negotiation process. Below we'll share four mistakes that you will want to avoid when making an offer on your dream home.

Mistake #1 – Not Working With A Professional

The first mistake that home buyers make is trying to buy a home without using the services of a real estate professional. Buying a home is a significant financial transaction and one where the seller and their agent are working hard to ensure they come out ahead. Having experienced representation on your side of the table ensures that you won't be taken advantage of.

Mistake #2 – Skipping The Home Inspection

The second mistake – and one that is more common than you think – is skipping the home inspection. There are countless instances of home buyers thinking that the house looks great on the outside without realizing that there are issues with the roof, the foundation, the plumbing, inside the walls or some other area that's tough to see. Having the house professionally inspected before tabling an offer ensures that issues are fixed up before the transaction is complete. Alternately, if you're willing to move ahead regardless, you can ask for the price to be reduced as compensation.

Mistake #3 – Not Being Pre-Approved For Financing

The third mistake in our list is making an offer on a home without being pre-approved for the amount of mortgage financing you will need. Regardless of how good your credit is, the mortgage application process is one that can present challenges. Also, many home sellers will require evidence of financing pre-approval before accepting an offer, so it's best to come prepared.

Mistake #4 – Taking On Other Debts

Once you've decided on the home you want to purchase, you will want to avoid taking on any other debts which can affect your credit score. Don't buy a car, open any new credit cards or do anything else which will show up on your credit report. Once you are pre-approved for your mortgage, you'll want to keep your credit as spotless as possible to ensure that nothing goes wrong.

If you're prepared and clear-headed, the offer process will go smoothly and you'll soon be moving into your dream home. When you're ready to explore financing options, contact your trusted mortgage professional.

Dennis Hearing HeadshotContact Dennis Hearing

Loan Originator

Supreme Lending

Call (954) 648-4949

NMLS #892525

Supreme Lending

Supreme Lending NMLS#2129

See ourfair lending policy.

Blog author image

Carlleen Wilson

Carlleen offers the ultimate in enthusiastic, personalized, professional service. Born in the Mid-West and raised in Palm Beach County Florida with 20 years’ experience in South Florida & Treasure C....

Latest Blog Posts

Glorious Views 15 Of The Most Beautiful Restaurants In Palm Beach County

There’s just something beautiful about March in Palm Beach County…. The palm trees perfectly lining the streets, the pops of pink and yellow in the trees, the ocean waves acting as the

Read More

Adagio Luxury Condos Coming To Ft Lauderdale Beach Late 2019

My wife and I recently met a REALTOR who represents a new luxury condo being developed in Fort Lauderdale Beach. They have broken ground and expect to be ready for move in by late 2019. We were so

Read More

Four Mistakes To Avoid When Making An Offer For Your Dream Home

You've scoured the new home listings, been to all the open houses and have finally found the home of your dreams. It is now time to draft an offer and begin the negotiation process. Below we'll

Read More

Real Estate Negotiations 3 Tricks That You Can Use To Ensure Yours Is The Winning Bid

You've toured through a number of listings, attended all the open houses and have found your potential new dream home. Now the hard part begins, especially if you're working against other buyers who

Read More