Southern Maryland Homes for Sale

head_left_image

Charlotte Home Buyer Tips:  3 First-Time Home Buyer Mistakes and How to Avoid Them

These are valid in Southern Maryland, too. Get the pre approval first is an applause generator each and every day. It is as important as a Seller pricing a home correctly and doing the pre inspection checklist up front before a Buyer even crosses the threshhold.

Charlotte Home Buyers:  3 First-Time Home Buyer Mistakes and How to Avoid Them

There are a few mistakes that many first-time home buyers make.  Here are three of the most common mistakes and how you can avoid them when purchasing your first Charlotte home.

Keys to successful homebuying in Charlotte NCMistake #1:  Assuming that your credit is good. The information in your credit report determines whether you can get a loan — and how much interest you will have to pay – so it pays to be certain your credit reports are accurate. Check your credit reports for free from all three credit reporting companies — Equifax, Experian, and TransUnion — to make sure everything is correct.  If you find errors, contact both the credit reporting company and the information provider (the person, company or organization that provided information about you to a credit reporting company) involved in the errors and ask them to fix the credit report errors.  A qualified lender can also assist you with the repairs and should not charge you anything to do this.

Mistake #2:  Getting pre-qualified, not pre-approved, for a loan. It's far better to be pre-approved for a loan than to be pre-qualified.   Here’s why… With pre-qualification, your lender does a preliminary evaluation of your ability to pay for a home and gives an estimate of the mortgage amount they’ll give you.  The lender does not verify the information you provide. With a pre-approval, your lender verifies your income, assets, debts and credit history.  They provide you with written confirmation of the mortgage amount for which you’re approved. That written confirmation demonstrates to the seller that you are committed to buying; this can give you an advantage over other buyers.

Mistake #3:  Allowing emotions to influence your decisions. Buying a home is an investment.  It needs to be treated as any other investment.  You don't buy stocks because they are pretty and you shouldn't pick your Charlotte home that way either.  Make sure the home you buy fits your needs and allows you room to grow over the next few years. As with any sound investment, time is the key to a good return.

If you are a first-time home buyer, I would be happy to help you find (and get the best price for) your first Charlotte home.   Give me a call or email me today.

Originally posted at http://www.icharlotterealestate.com/charlotte-home-buyers-3-first-time-home-buyer-mistakes-and-how-to-avoid-them/

_________________________________________________________________________________

 
You'll "Retrieve Golden Results" with Cheryl Ritchie, RE/MAX Leading Edge, for all your Southern Maryland and Anne Arundel County Real Estate Services.
 
OR Call/Text Cheryl at Cell 301-970-7566 OR EMail
GoldenGirl@GoldenResults.com for the Golden Results YOU Deserve.
 
Visit my Digital Business Card at https://about.me/GoldenResults
 
 
 

Or Visit my "Golden Results" Social Networking Sites

RSS Feed http://twitter.com/GoldenResults http://www.linkedin.com/profile?viewProfile=&key=23151495&trk=tab_pro http://www.stumbleupon.com/stumbler/goldenresults/reviews/ http://www.facebook.com/goldenresults http://delicious.com/goldenresults http://www.flickr.com/photos/goldenresults http://www.google.com/profiles/RetrieveGoldenResults
Comment balloon 0 commentsCheryl Ritchie • August 30 2011 11:09PM
Charlotte Home Buyer Tips: 3 First-Time Home Buyer Mistakes and How…
share
These are valid in Southern Maryland, too. Get the pre approval first is an applause generator each and every day. It is as important as a Seller pricing a home correctly and doing the pre inspection checklist up front before a Buyer even crosses… more
Unsung Heroes of Calvert County
share
Let's applaud the unsung heroes of Calvert County this week. They have come in caravans. They have come in fleets. They have come in battalions. They are names and faces we do not know. But they have come from all areas of the country to help us… more
Hurricane Thoughts… I miss…
share
Ice cubes Cool temps Navigable roads Internet Access Street lights A sense of balance and order News at Night Clean dishes Ability to work. Almost everything is… more
Post Hurricane, I appreciate…
share
Family, friends, neighbors and furry companion are all okay. No trees down this time in our little hood. There are leftover Fraps in the Freezer. I just loaded up on lots of fruit and veggies… No cooking required. &… more
Pre Hurricane, I wish I had done this list… Hurricane Survival List
share
Next time, before the hurricane hits… Fill cooler with ice. Get batteries. Buy radio. Freeze water bottles. Run dishwasher plus clothes washer and dryer. Charge iPad and iPhone and… more
Before We Show You Our Listing, There's Something You Need to…
share
This is a good reminder. The listing agent represents the Seller. It is no bother to your agent to show the property or any property because that is how they get paid. No show, no pay. Disclosure is important in all agency roles with regard to… more
Top 5 iPad Apps for Real Estate
share
I love my iPad so I hunted down some good iPad posts this evening. I like the way this agent describes his note taking for showings. I also did not know about this floor plan plan app yet. Gotta go check out some more new cool tools on the Active… more
Divorce 101 for your Finances, Credit, and Outstanding Mortgage..
share
Definitely check with your attorney, your accountant and your lender, too, to cover all the bases. There are some good points raised below. Getting an accurate assessment of the true value of the home in today's market also tops the list. … more
If the seller won't disclose, the pesky home inspector will! A…
share
I like to have Sellers do their home inspection up front for just this reason. No surprises and complete disclosure is the track a Seller needs to be on to get the home sold plus settled. Surprises do not work, period. When someone talks to me about… more
Would you go grocery shopping if you didn't have any money?
share
I have often thought the same thing. You do not so much as go out the door to buy milk and eggs without the funds being arranged so why in the world would you think that on your biggest purchase ever you would skip the most important steps? This… more