Buying a home for sale in Lakewood is one of the biggest decisions you’ll ever make – but if you’re not careful, you could accidentally fall prey to one of these three huge pitfalls that prevent buyers from getting the home of their dreams.
3 Huge Pitfalls to Avoid When You’re Buying a Home for Sale in Lakewood
Your home purchase is a big deal, but your Lakewood Realtor® will be by your side throughout the whole process. He or she will be there to make sure you don’t make any huge mistakes – but even with your agent by your side, it’s important to know the three biggest pitfalls homebuyers face.
Here they are.
Buyer Pitfall #1: Failing to Maintain Preapproval
Most lenders will preapprove you for a certain amount of time, but that time can expire. Further, big changes in your financial picture – like a major purchase, job change or credit score nosedive – can cause your lender to withdraw its preapproval.
Don’t do anything that changes your financial picture before you close on the loan. That includes making major furniture purchases on a credit card!
Buyer Pitfall #2: Lowballing the Seller
In many cases, the seller is in the driver’s seat. He or she may receive several offers – or, at the very least, likely still owes the bank money for the home.
When a buyer comes in with a lowball offer, the seller has every right to reject it (either on principle or because it’s just not enough). If the seller rejects your offer, you can come back with another one, but be aware that you may have offended the seller enough that he or she won’t consider you again.
Talk to your Realtor about how much you should offer on a home. He or she won’t let you down.
Buyer Pitfall #3: Sleeping On It
When you find a home you love, make an offer.
Don’t go home and sleep on it.
Because if you fell in love with the home, there’s a good chance that someone else (or many others) did, too. And if your offer is the last one in – or worse, in after the seller has decided to accept another one – you’re going to miss out on your dream house.
Are You Buying a Home in Lakewood or Long Beach?
If you’re buying a home in Lakewood or Long Beach, we can help. Call us at 562-882-1581. Tell us what you want from your next home and we’ll start searching for it right away.
You can also explore our real estate listings here: