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10 Problems to Avoid When Buying or Selling a Home

House For Sale

10 Problems to Avoid When Buying or Selling a Home

There is nothing worse than making an important decision without having all the information. A lack of preparation can result in mistakes that can cost you thousands of dollars. At Ideal Lending Solutions, we know that preparation, along with a little bit of education, can go a long way in helping prospective buyers and sellers avoid costly mistakes and ensure a positive and affordable outcome.

For Buyers:

You’re in the market for a home, but don’t know just how much house you can afford.
Know exactly what you can afford by getting a pre-qualified mortgage through a reliable lender. It’s fast and easy and will give you confidence to make an offer the buyer will take seriously

Learning too late in the buying process that your Realtor represents the seller.
Before you start looking, establish a relationship up front with a Realtor to ensure that your interests are represented

Choosing the wrong mortgage and paying unnecessary interest, closing fees and taxes.
When considering multiple lenders, review all completed Loan Applications with your CPA or a Financial Advisor to ensure you choose the most affordable mortgage.

Purchasing a home and discovering hidden defects after you’ve closed the deal.
Avoid surprises by hiring an independent professional home inspector It is always worth the additional expense. You’ll be glad you did.

Discovering that your credit score is not where it needs to be when you go to buy or refinance.
Work with a mortgage lender in advance. He or she will review your credit rating and recommend steps needed to improve your credit, so you’ll be ready when the time comes.

For Sellers:

Setting an asking price too high based on personal need or emotions rather than fair market value.
A Realtor can help you determine fair market value using comparable homes recently sold in your area.

Your home has been on the market for some time and just isn’t selling.
A good home, priced reasonably may not sell because it hasn’t been properly showcased. Before you list your home be sure to repair and clean thoroughly to make the best impression.

You’ve signed a listing contract with a Realtor, you’re unhappy with the results, but you can’t get out of the contract.
Tell your Realtor up front that you want to be able to cancel the listing agreement, with no questions asked, before you sign the contract.

You’ve chosen a Realtor for the wrong reason. (For example, the Realtor works for the most the popular company, or was the only one you met with.)
Meet with a minimum of three agents and be sure to check references. Make your decision on their track record and their proposed marketing plan for your home.

You’ve signed a legally binding contract with a lender before you’ve suddenly learned this transaction will cost you thousands of dollars.
The lender must provide you with a completed Loan Application before closing. Before you sign, review the application with your CPA or Financial Advisor and avoid costly mistakes.

Ideal Lending Solutions | West Palm Beach | Boca Raton | Jupiter | Aventura
American Financial Network, Inc., DBA Ideal Lending Solutions, is not a government entity; CORP NMLS# 237341 ; Equal Opportunity Employer ; Equal Opportunity Lender American Financial Network, Inc. 10 Pointe Drive, Suite 330, Brea, CA 92821. Click here to view our current licensing information as listed on NMLS® Consumer Access.

Equal Housing LenderAmerican Financial Network, Inc. is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age (provided you have the capacity to enter into a binding contract), because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. The federal agency that administers our compliance with these federal laws is the Federal Trade Commission, Equal Credit Opportunity, Washington, DC, 20580.

American Financial Network, Inc. is not acting on behalf of or at the direction of the federal government, and this offer is not being made by an agency of the government.