Jan 4, 2016

Top Buyer Traps to Avoid When Buying Incline Village Luxury Homes

Dipping into the real estate industry has long been believed to be one of the safest investments you can make. Multimillionaire Roy Rogers couldn’t have said it any better: “Buy land. They ain’t making any more of that stuff.” This, ideally, is true, as land is one of the limited resources we have on the planet. However, real estate has become an industry where homeowners find it hard to earn successful investments during the past years, with foreclosures, predatory lending, subprime loans, and more. Like most investments, one’s success is determined by a lot of research, patience, due diligence, discipline, and avoiding some of the most common buyer traps when purchasing luxury homes for sale in Incline Village NV:

Starting the home search without a pre-approved mortgage — While it’s easy to determine exactly the type of home you and your family needs — size, number of bedrooms, type of floor plan, style, amenities, features, and more — buying a home without a pre-approved mortgage means not knowing just how much home you can afford. This can then lead to paying too much for a home you can’t afford or getting stuck with a home loan with interest rates you can barely pay for.

Bidding without knowing the current state of the market — Part of what Incline Village best real estate agents can provide you is a comprehensive market report for the community you’re looking to purchase a home in. This report contains information on comparable homes in the area, how much they sold for, how many homes are in the market and what the average sale prices are for different types of homes. With a free market analysis, you can determine what the real value of a property is and you can make sure that you’re offering a competitive bid for a home with excellent value.

Not hiring a home inspector to check for any undisclosed fix-ups in the listing — Both buyer and seller aims to maximize their investment which can mean that not all sellers will be upfront about all the physical details of the home that needs replacement or fixing. Before you purchase a home, make sure that you will do a thorough inspection by hiring an independent, experienced contractor to check the home for you. He or she can provide you a comprehensive report of any parts of the home that needs to be fixed as well as an approximate cost for these repairs.

Rushing to close the deal — It’s understandable for home buyers to get excited to start moving into their new high end real estate in Incline Village NV, but do not do so without triple-checking all the paperwork that comes with it. Avoid any contract misses and make sure that the documentation perfectly reflects all that you have negotiated with the seller’s agent. Check that nothing has been added or subtracted in the documents at least a couple of days before so you can make the necessary changes without compromising the sale.

Get the home you want at the price you can afford. Recognize these buyer traps before you even start the homebuying process so you can easily steer clear of them. For even more tips for savvy homeowners looking to purchase or sell their homes in Incline Village NV, get in touch with a trusted Realtor® by visiting www.InclineLuxuryHomes.com.

If you are looking for the perfect luxury home or condo for sale in Incline Village NV, call me, Peg Augustus at 775–831–2846. With my personalized service and extensive knowledge of the Incline Village real estate market, I can help you find the perfect property that best suits your needs and high-end tastes.