Bryan W. Welch

The Team at "AllAroundTucson.com”

“Ten Deadly Mistakes Buyers Make when Purchasing a Home”

1.   Making an Offer on a Home without being prequalified. Prequalification will make your life easier. Take the time to speak with one of the strategic lenders.  Click on the Strategic partners tab and get directed to some of the professionals I trust in this ever changing market. The goal at the end of the process is to have a “Loan Status Report” (LSR) to accompany an offer. The LSR tells the seller you are financially qualified and able to purchase a home. It also helps you determine the price range you can afford. I almost never make an offer on behalf of a client without an LSR or proof of funds letter.

2.   Not having a Home Inspection.   Trying to save money today can end up costing you tomorrow.  A qualified home inspector will complete an inspection and detect issues that many buyers can overlook.  This inspection is accomplished during the 10 day inspection period and is the foundation of due diligence during the home purchasing process. This usually costs around #300 dollars depending on the size of the home.

3.   Limiting your search to open houses, ads, or the internet.   Many homes advertised in magazines have already been sold. Driving around looking at open houses limit the home inventory you see. Your best course of action is to have a Realtor like me help you with the process.  You can log on to my website and sign up to be a buyer of seller and immediately have complete access to all the listings in the Tucson Multiple Listing Service. This is just another added benefit you receive when working with me or my Team members.  

4.   Choosing a Real Estate Agent who is not committed to forming a strong business relationship with you.  Making a connection with the right Realtor is crucial. Choose a professional who is dedicated to serving your needs before, during and after the sale.  We have over 30 years of Real Estate experience on our team. Not only do we build strong relationships, we share those relationships through our Strategic Partner referral network.  Our business is forged on relationships with our clients.

5.   Thinking there is only one perfect house out there.   Buying a home is process of elimination, not selection.  New properties arrive on the market daily, so be open to all possibilities.  Ask us for a “Competitive Market Analysis” (CMA) this compares similar homes that have sold, or are still for sale.

6.   Not considering long term needs.  It is important to think ahead. Will the home fit your needs 5 years from now?

7.   Not examining insurance issues.   Purchase adequate insurance.  We make sure a “Condition Loss Underwriting Evaluation” or (CLUE) report is obtained during our due diligence period. This helps to determine your insurance needs or the property.

8.   Not buying a “Home Protection Plan” This is essentially a mini insurance policy that usually lasts one year from close of escrow.  It usually covers basic repairs you may encounter and can be purchased for around $425 dollars. This is one of the items in the transaction that is normally negotiated within the purchase contract.

9.   Not knowing total costs involved.   While evaluating an offer to purchase, we can give you an estimated cost sheet so you know the bottom line. We have years of experience and have scrutinized many settlement statements for accuracy.

10.   Not following through on due diligence.  We interview our buyers to help determine the concerns they have relating to issues such as; crime rates, schools, power lines, environmental conditions, etc. before we start the home search.  We want you to have confidence with your home selection when you make your offer to purchase.

Oh, by the way….whenever you come across people who are thinking about buying or selling a home and would appreciate the kind of service I offer, I’d love to help them. So, as these people come to mind, please just give me a call with their name and phone number. I’ll be happy to follow up and take care of them.

2007 Buffini and Company

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