(16 MISTAKES) First Time Buyers Make
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- Опубликовано: 12 сен 2024
- Buying a home is an exciting milestone, but it can also be fraught with potential pitfalls. In this video, we'll go over 16 home buyer mistakes to avoid. We'll cover topics like failing to thoroughly research the area and not being pre-approved for a mortgage before starting the home buying process.
We'll also look at how to avoid getting blinded by features you may not need and how to spot costly maintenance issues. Plus, important pointers on understanding the closing costs associated with purchasing a home.
Whether you are a first time home buyer or not, watch this video on 16 Home Buyer Mistakes To Avoid now to make sure you don't make any unnecessary missteps during your real estate journey!
NEXT:
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0:24 Not Pulling Your Credit
0:53 Not Getting Approved
1:24 Not Getting a Home Inspection
1:49 Not Getting a Home Warranty
2:42 Not Asking for The Things You Want
4:07 Not Getting an Insurance Quote
5:05 Not Testing The Water
5:55 Not Getting Septic Inspected
6:57 Not Getting an Appraisal
7:51 Not Getting a Title Policy
9:15 Not Getting a Survey
10:14 Not Pulling Deed Restrictions
11:13 Not Getting The Mineral Rights
12:11 Not Knowing the Flood Zone
13:06 Not Checking the Offenders List
13:43 Not Asking THE RIGHT Questions
End First Time Home Buyer Mistakes
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DISCLAIMER The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.
#12 HOA said not this color and no boat and blah blah blah.
Exactly why i refuse to even consider an HOA property. I will not pay someone to tell me what i can and can not do on my own property. I understand the concept of keeping an area looking beautiful but there has to be a better way. HOAs often overstep their grounds. Sometimes to the point of being illegal.
I did a ton of research before buying my first home in 2017.
I was able to complete everything you just listed, and I am very happy.
My real estate agent was referred by my hair stylist. That same agent sold my stylist her house and also her mom a condo.
I am so glad a home warranty came free with this house. I have renewed it every year. I saved thousands by having an entire central air unit replaced, my electricity fixed, my plumbing fixed, etc. It's with American Home Shield.
Yep! Home warranty’s can save you thousands!
You're doing a great job explaining what to do and what not to do when comes to buying a house.
Thank You!
i just sold my third house and was kind of taken back to the buyers adding the all appliances and the shed to stay the shed i figured was a given the appliances yeah sure even though like you said they were listed as included in the listing. I turned down an offer that wanted me to leave my lawn mower and have the house professionally cleaned at my cost. i mean hell ive got to pay for that at the new place tooi got two offers the same day both with a deposit one for 3,000 with closing for june 16th the other deposit of 5,000 and closing may 31st which works perfect because the home is on leased land so closing the 31st i move out on the last day of my paid month and they start their first payment the first day of june.
my last house the buyer waited until after all the paperwork was signed to ask if the lawn tractor stayed so because i was going to a smaller lot i pitched the idea of if he covers my movers fee ill leave it. that move was very unconventional i allowed him to start renovations before closing i allowed him to drop in whenever. i was being sued by my bank for unpaid debts so i did all i could to make sure it went as smooth as possible for him so he didnt back out because i had the house on the market for a year with no offers. he restored it back to its 1852 glory the best he could with the building codes. that house was there 110 years before the town was
Wow. We are so ignorant. At least I am. This was a MASTER CLASS. Thank you so much!
Gosh, I hope I can remember all of this if im ever in a position to buy a house.
Just started watching your videos and I think your advice is fantastic! I currently rent a whole house but my family is only getting bigger but your videos inspire me to become a homeowner.
Christ man. Never buy a home warranty. They will do everything under the sun to deny the claim.
I’ve seen my uncle flip a house at a DISCOUNT using a home warranty
@@bitlander no decent contractor works with them either because they don't pay contractors well. So if somehow you get a claim to go through, you have contractors that have no idea what they are doing
Loving your content, Wayne. Thanks for sharing your wisdom.
Thanks for watching boss!
Thanks for making it simple!
Thanks for watching my friend!
You are giving me great information. Thank you and God bless you.
Glad it’s helpful!
In this video you asked for any ideas. I had one - Showing the actual process of getting your loan qualified from the bank. How to locate and choose the right (best) bank lender. Is it best to rely on recommendations to find someone, etc. Is it best to go in person to find the actual person at the bank who handles loans, or to call, or contact them via e-mail, etc. I think the idea of approaching lenders for a loan is a scary prospect for people, as they don't know what steps to take, what to ask, etc. Just an idea.
That’s a great idea!
Just found your channel and I had to subscribe. Great information,thank you for sharing, it's much appreciated sir.
I have a question… I was told by a mortgage loan officer that I would NOT qualify for a USDA loan… even if the home IS IN
an area that does qualify for USDA loans BECAUSE of the fact I have access to money for a 20% down payment in my 401k.
However, I DO NOT want to take out a 401k loan on my retirement money!
So…. Do I or do I NOT qualify for this type of loan?
I do not have credit or income issues… all that has been verified
Another great video.
I appreciate that
Great information!
Thank youv
what about living off grid woulds be that much less stress and hustle ?
Thank you so much!
Video is Gold!!
@@shawng8432 meant to say Gold lol
Nice
When a home is being sold "as is where is" does that mean no matter what's wrong, the seller will not fix or credit you for these repairs?? What do you think all these inspections are going to cost?
That's a great question! In Louisiana when a home is sold "as-is" with waiver of redhibition you sign a document stating that you waive the right to sue the seller if any defects are found after you take possession of the property. This does not protect the seller in cases of fraud, but you have to be able to prove that they knew about the defect.
Sometimes a seller will add verbiage to a contract or advertise a home as as-is and that they are not willing to make repairs. This does not waive your right to inspect the property, and really truly doesn't prevent you from going back to the table to negotiate with the seller.
I do not recommend ever waiving your right to inspections. A general home inspection in my market costs about $400-$500 and they will inspect all the major components of the property and advise you if they recommend additional inspections by a specialist.
@@TheRealWayneTurner thank you for the response. We had an inspection done on a property for $500. This did not include the septic system, well and water which would have been an additional cost. The standard inspections just highlight the trouble spots and then you need to bring in all the trades that that has found. If you want peace of mind it will cost way more than a basic inspection fee.
We are not first time buyers and I am an electrician by trade so have a good idea about the other trades and what those repairs would cost. Things like lead paint and asbestos would be other inspections needed.
I really love your videos they have given me some more information to go forward. Especially the questions to ask. We are also a strong believer in hiring an attorney to do your closing as they are more knowledgeable in the ways if the real estate world.
Can you negotiate the commission rate of your agent?
Doesn’t buyer technically still “pay” for agent? Because sellers offer discount if you come without an agent
Nope! The brokerage fee is already negotatiated between the listing broker and the seller. The buyer agent gets paid by the listing brokerage company.
Title: Buying a House: Avoid these Mistakes
Unfortunately, #16, the buyer will now pay the realtor. 😢
I really hope my well water doesn't have Ebola in it! hahahahaa