by Dana Dratch Published September 11, 2012 Bankrate.com
What Not to do When Buying a Home
Buying a home is not an everyday activity. There’s a learning curve, which explains why real estate experts see the same blunders again and again.
From confusing the seller’s agent for your new best bud to putting all your available cash on the table at closing, here are six common — and costly — mistakes home buyers make.
Believing the Showing agent is your new BFF
Sure, real estate agents are friendly. They’ll share confidences over coffee, tell you stories about their kids and commiserate about work.
But unless you hire your own buyer’s agent, the agent repping that house works for the seller, says Barry Zigas, director of housing policy for the Consumer Federation of America. That means that, if you admit that you can go as high as $250,000, you probably won’t get the house for a penny below $250,000.