1. QUALIFY everyone involved in the transaction. From agent to inspector to contractor to surveyor to.......just a few seconds on Google...do something!
2. Learn about homes, what to look for and what might be common problems for homes in the area under consideration. Knowing trends or issues in the area, age of homes, materials used, trends....all help paint a background for a buyer.
3. Understand options if and when something arises. The agent is critical here; are there outs in the contract to prevent the buyer from being trapped in a deal? While the above may be common sense, it’s fascinating how stupid – yes that’s harsh but it’s true – some home buyers are when it comes to this process. It’s baffling; would a buyer act as nonchalantly if handing 400K to a financial adviser? Why would they use Uncle Tony who is between jobs as their agent knowing Tony isn’t a pro? Read more and dive deeper into ways to avoid The Dream House that Becomes a Nightmare. Don't let what should be one of the best things become one of the worst - or a financial calamity that does lasting damage.
Sources: Realty Times, Hank Miller/Zillow/AOL Real Estate/ New York Times