Buyers can be prone to certain transgressions. Below are five of the most common ones that I see.
1. Listening to people who bought houses years ago. The market has changed.
2. Believing people who insist every house is overpriced by X%.
3. Believing values found on Zillow or any automated valuation model.
4. Not listening to their agents when they explain sellers’ market conditions.
5. Not getting preapproved prior to looking at properties, then finding they can’t afford what they want, and then expecting the seller to lower the price for them.
Buying real estate is a complicated process. Between the confusing terminology and the logistics of buying a house, it’s all-too-easy to make the wrong move or wind up in an unwise investment. Make sure you do your research and find an agent that is knowledgeable and trustworthy.