Avoid These 5 Home Buying Mistakes
Buying a home is the most important purchase most people will ever make. Doesn’t it make sense to treat this purchase seriously and to do everything you can to avoid potential problems? The home-buying process can be made much easier and less stressful if you avoid these 5 common home buying mistakes:
- Not Hiring a Lawyer
New Jersey home buyers are not required to hire an attorney to help them with their purchase. Just because an attorney is not required does not mean that you should buy a home without professional legal help. Lawyers often first become involved during the attorney review stage of the transaction, but will help you along with other phases of the sale as well.
- Failing to Inspect the Property
New Jersey real estate contracts often include a home inspection contingency. This provision allows the buyer to have the property inspected for defects, safety hazards, wood-destroying insects, lead paint, and radon. If you do not take advantage of this right, however, you could lose out on the opportunity to have any issues with the property fixed before closing.
- Ignoring Costly Issues
After home inspection, you will be given a report of any problems that have been found. Some home buyers are so excited to be buying a home that they might just want to overlook some of these problems instead of having them fixed. With the help of a lawyer, you will have the opportunity to negotiate repairs or credits towards your closing costs.
- Missing Deadlines
The home-buying process includes many important deadlines. Failing to meet a deadline may result in forfeiture of an important right, delay closing, or may even cause the contract to be cancelled. If you have hired an attorney, he or she will often help you make sure that all deadlines are met, and if a deadline cannot be met, will try to prevent it from negatively affecting the transaction.
- Not Taking Time to Enjoy the Experience
Buying a home is an exciting time. You should be happy with your purchase and excited for what the future holds. Try not to let the process cause unnecessary stress, and instead, use it as an opportunity to begin thinking of all the great memories you and your family will have in your new home.
If you are planning on buying a home, the lawyers at Tagliente & Shah are ready to help you. Our team will help guide you through the home-buying process and help you avoid the home buying mistakes, problems, and pitfalls that trip up some home buyers. Contact us today to speak to one of our firm’s attorneys.