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Buying Smart - Ten Common Mistakes of Transferee Homebuyers
Relocation Home >> Buying Smart Tips >> Ten Common Mistakes

Ten Common Mistakes of Transferee Homebuyers

Since transferees typically move more often than other homebuyers, purchase mistakes cannot always be overcome by appreciation over time. Transferee homebuyers commonly overpay and/or lose equity in their home by:

  1. Working with a real estate professional who does not possess and adequate knowledge of the area and relative property values.
     
  2. Working with a real estate professional who is unable to identify customer needs, recognize when those needs change, and identify a sensible process for reaching decisions.
     
  3. Purchasing without considering issues of resale.
     
  4. Purchasing the largest, most expensive or over-improved home for the neighborhood.
     
  5. Purchasing emotionally for such things as personalized decor or status, ignoring the consequences of buying an overpriced property.
     
  6. Purchasing new construction in an area that is less than 80 percent developed.
     
  7. Purchasing in an area inconvenient to employment centers.
     
  8. Purchasing a home that does not have adequate features for the price range or has an unpopular floor plan.
     
  9. Purchasing with the intent of remodeling, extensively redecorating or reconditioning a poorly maintained property.
     
  10. Purchasing in an area that is experiencing declining value.

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