Below are 10 common mistakes made by buyers – as seen by buyers themselves. The issues are all covered in our buyers Step by Step Guide, but once again, they are worth looking through as a quick check.
- Mistake #1 They don't choose or select an Agent to act in their interests before rushing out and looking at open houses.
- Mistake #2 They don't make use of services Financial Institutions make available to them especially by obtaining pre-qualification
- Mistake #3 They are not aware of the additional costs to register a bond or the property in their name.
- Mistake #4 They sign an offer to purchase without checking it out or being aware of the commitment involved. Many purchasers fail to understand legal implications of the offer and that it becomes a contract which is binding the moment the Seller accepts it without alterations.
- Mistake #5 They are also not aware of the concepts of “occupational interest”, “subject to”, and other clauses included in their contract
- Mistake #6 They fail to view a property just because of the kerb appeal or outside appearance.
- Mistake #7 They fail to start negotiations in writing when they find the right home. Many buyers have been totally distressed because they lost the home they really wanted. It's also strange how you tend to want it more when you know you cannot have it.
- Mistake #8 They neglect to carefully consider exactly what they are looking for when beginning their search. This means wasted time and lost opportunities.
- Mistake #9 They fail to establish a checklist and work through it to check the home is sound and in order. Eg.: taps loose, damp, electrics, pool etc...
- Mistake #10
They do not Property Network as their agents when buying in Port Elizabeth
Back to the Buyer Advice Centre Here
Read the article on Why to use a Buying Agent
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View some Client References
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