Home Buying in Ann Arbor>Question Details

slvanderloov…, Home Buyer in Ann Arbor, MI

Common First-Time Home Buyer Mistakes.

Asked by slvanderlooven, Ann Arbor, MI Fri Apr 26, 2013

Ann Arbor has a limited market and I'm seeing homes being scooped up quick. As a first time home buyer I don't want to make a stupid-first-timer-error. Any helpful suggestions so I can watch for my own warning signs? :)

Help the community by answering this question:


1) Not Asking how long in the business and any building experience?
2) Not calling Tom Stachler

Answer: http://www.TheRealtyTour.com or call 734-516-2000
0 votes Thank Flag Link Fri Apr 26, 2013
I also work extensively with First Time Home Buyers. I find the most common mistake is not selecting a real estate agent to work with early enough. Buyer's often don't understand that working with an agent is at no cost to them... or they think they can "go it alone" for awhile. But it's important for a new buyer to fully understand the entire process; from starting to investigate loan alternatives, to searching online, to seeing homes, making an offer, handling inspections, title work, lender interface... and right on through closing and beyond. There is confusion as to When you are committing to something, What costs you'll incur, and How Long it takes through the various steps.

Working with an agent you trust is key. Much of the confusion and anxiety goes away when you fully understand the process steps and having an expert working for you to guide you through all the steps.

I do this all the time and would be happy to talk with you.

Feel free to contact me,

Pat Daum
Keller Williams
0 votes Thank Flag Link Fri Apr 26, 2013
Good Question!
Recently retired from 33 years of real estate working with first time home buyers. Gathering information is the critical first step and unfortunatly most people miss the first step. Gather all the objective information yu can find because your next step is choosing your loan officer and lender. Critical choice. Read Consultation Interviewing Loan Officers, at Your Road Home.com. Will serve you well. You will also find articles on the various loan types that serve first time home buyers and be sure to read article #9 about the MCC Tax Credit. Best tax credit ever and must be filed before you close your loan.
After you have gathered your information you will find agents and loan officers from your area offering their services on Trulia. Can be a good source
Best of Luck, Stephen Webber
Web Reference: http://Your-Road-Home.com
0 votes Thank Flag Link Fri Apr 26, 2013
Work with someone who has resources and experience tailored specifically to new home-buyers.

Cooperate with them and consider their advice, especially when it comes to things like choosing local lenders who are familiar with Washtenaw Co processes and who will also make themselves very accessible to you.

Read the contract that you're signing and ask questions- better to get clarification on offer submission than needing to scramble around at the 11th hour for something.

***Ask your buyer's agent for strategies that will help you come out on top in multiple offer scenarios- most of the buyers I work with need a way to separate themselves from the pack and make their offer more attractive. Call me if you want to discuss.

Good luck!
0 votes Thank Flag Link Fri Apr 26, 2013
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