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How to Stop Paying Rent Forever... And Own a
Home of Your Own!
Paying rent is like pouring money down the drain. But
it’s true, buying a home can be a “hair-raising” experience.
It can be a roller coaster of emotions... finding the
right place, securing the loan, moving in. And if you’re
like most of us, your home will be your largest investment.
The emotions over such a large and personal purchase
can often cloud good business judgment.
Many home buyers do very little research before “diving
in” and investing their hard-earned money. Before
doing that, it make sense to be as informed as possible.
That’s what this report is all about. It’s
designed to help you avoid 10 common, critical mistakes
many home buyers make. If you follow these 10 suggestions,
with the help of the right Real Estate professional,
you’ll stop paying rent and make a good sound business
decision that you’ll be happy and proud of for
years to come.
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Inspect, Inspect and Inspect-
Go over the inspection report with a fine tooth comb.
Make sure the report was done by a professional organization.
For condo purchases, go over the by-laws, and association
fees. Don’t take anything for granted... inspect
everything!
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Imagine the Property Vacant- Your
furnishings and decorations will be the ones filling
this new residence. Don’t be swayed by beautiful
furniture ... it leaves with the owner.
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Income Plus Lifestyle Equals Mortgage
Payment- Sit down with a competent Real Estate professional
and honestly discuss your income level and living
expenses. Take into account future considerations
like: children, add-ons, amenities or fix-ups. Your
dream home is certainly worth a sacrifice but don’t
mortgage your entire future.
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View Several Homes- See at least
3-5 properties. Don’t move on the first property
you see but... don’t move too slowly either.
With your agent’s help, you’ll be able
to view enough properties to get a good overall perspective
of your market. And when you find the right property,
all the legwork will be worth it.
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Utilize Your Team- By aligning
yourself with the right Real Estate professional,
you’ll
have an entire team working for you. Top Real Estate
professionals have lenders, title reps, inspection
teams - an entire group of trained professionals
making the whole buying experience simple and easy
for you.
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Be Columbo- Check out all your costs
and expenses before you sign: utilities, taxes, insurance,
maintenance and homeowner dues, if applicable. Make
sure all utilities are on (gas, electricity, and
water), so you can inspect everything in working
order. Ask lots of questions and be very detail conscious.
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Do a Final Walk-Through- Visit the
property after all the furnishings have been moved
out to be sure there are no surprises. Be absolutely
positive the property was left exactly as you had
agreed upon in the contract. Many times, things are
unintentionally overlooked that could have been spotted
in a final walk-through.
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Plan For Flexibility- Closing
dates are not written in stone. Allow for contingencies
and have a back-up plan. If you or the sellers need
a little more time to conclude the final arrangements,
don’t let these delays upset or frustrate you.
These types of circumstances are not uncommon in
a Real Estate transaction.
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If It’s Not In Writing, It
Doesn’t Exist- All promises and discussions
are to be in writing. Don’t make any assumptions
or believe any assurances. Even the best intentions
can be misinterpreted. Have your Real Estate professional
keep an ongoing log (in writing) of all discussions,
and get the seller’s written approval for all
agreements.
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Loyalty Breeds Loyalty- Be open,
honest and up-front with your team. Hard feelings
and disloyalty will cause headaches, delays or may
even keep you from getting into the home you worked
so hard to locate. Take the time to select the right
team in the beginning and your first home purchase
will be a simple, easy and profitable experience
you’ll have fond memories of... for years to
come.
Our hope with this report has been to educate you
and help you avoid the pitfalls many home buyers go
through. We hope you found the ideas valuable and if
there is ever any way we can be of service to you or
anyone you care about, please contact our
office.
Your initial consultation is always completely free
of charge and you’re under no obligation of any
kind. We’ll sit down for 15-20 minutes... no
pressure, just plain, honest talk about what it’s
going to take to achieve your personal goals.
Go ahead, pick up the phone and give us a call. We
would love to hear from you!
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