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Special Report for Buyers and Sellers

The 10 Dumbest Mistakes Smart People Make When Buying Or Selling A Home...

And How To Avoid Them

Home Buyers:

Mistake #1:
Not knowing how much they can afford before they make an offer.
The easiest way to avoid this mistake is to get pre-approved for a mortgage by a lender so you know in advance exactly how much you can afford. South Bay Home Team has three excellent lenders for you.

Mistake #2:
Not realizing in advance whom the real estate agent represents.
Most people think that the agent they are working with is working for them. But unless your agent has signed a buyer’s agency agreement with you, “your” agent represents the seller.

Mistake #3:
Not realizing that the wrong mortgage can cost thousands of dollars in needless interest and taxes. Check with your accountant before you make your final decision on which mortgage you are going to choose. Your CPA will be able to tell you what the long-term effects will be on your income.

Mistake #4:
Not discovering hidden defects before they buy a home. One of the most expensive mistakes is also one of the easiest to avoid by having a professional pre-purchase home inspection.

Mistake #5:
Not knowing how much credit can affect their ability to buy or refinance a home. Before you buy a home, many of the clouds on your credit history can be cleared up or even eliminated. South Bay Home Team can find you mortgage professionals who can help you review, prepare and correct your credit file in advance. In today’s computer age, your numeric credit score is critical to your success.

Home Sellers:

Mistake #6:
Basing their asking price on needs or emotion rather than market value. Many times, people make their pricing decisions based on how much they paid or invested into their home. This mistake can be expensive. Overpriced homes take longer to sell and eventually net the seller less money. Consult with South Bay Home Team for a free market analysis. This analysis can assist you in pricing your home correctly from the beginning.

Mistake #7:
Failing to "showcase" their home. First impressions are the most important. Experience shows that for every $1000 in repairs that your home needs, a buyer will deduct $3000-$5000 from their offer. Thoroughly clean and prepare your home before you put it on the market if you want top dollar.

Mistake #8:
Signing a listing contract with no way out. Most traditional real estate agents want you to sign a listing contract with no way out. When you list you home with South Bay Home Team, you can cancel your listing agreement at any time, no questions asked.

Mistake #9:
Choosing the wrong agent or choosing for the wrong reasons.
Many homeowners list their home with an agent from their church or social circle without knowing the agent’s track record for successful sales. You need to choose the agent with the best marketing plan and track record to sell your home.

Mistake #10:
Not knowing all of their legal rights and obligations. Real estate law is complex. The contract that you will sign when selling your home is legally binding. Small items that are neglected in a contract can wind up costing you thousands of dollars. You need to consult a knowledgeable, professional who understands the in’s and out’s of a real estate transaction. South Bay Home Team’s Tim Burrell has been licensed as an attorney for over twenty years. If you would like a free explanation of the real estate contracts by someone who teaches other Realtors what these documents mean, go to www.SouthBayHomeTeam.com and send us your request. It’s our public service to provide that information.

How to Avoid These Mistakes

Find www.SouthBayHomeTeam.com on the Internet so you can see our entire team, learn how we work, search for houses that are available for sale, ask for free professional answer to any real estate question by an experienced attorney and real estate broker, and review more reports like this one.

Better yet, call Tim Burrell at (310) 377-4702 to get answers to all of your real estate questions.