Ignite FB Tracking Pixel3 Homebuying Worst-Case Scenarios, and How to Avoid Them - Niz Brown
3 Homebuying Worst-Case Scenarios, and How to Avoid Them

by Niz Brown 12/17/2018

As a homebuyer, it is easy to envision finding the perfect house, submitting an offer on it and acquiring it right away. However, it is important for buyers to consider the worst-case scenarios as well.

A buyer who understands the worst-case scenarios that he or she may encounter during the homebuying journey can plan accordingly. That way, this buyer will be better equipped than others to avoid various homebuying worst-case scenarios altogether.

Now, let's take a look at three common homebuying worst-case scenarios, as well as how buyers can avoid these situations.

1. You find your dream home, but it falls outside your price range.

If you enter the housing market without a mortgage in hand, you may need to act quickly to acquire the necessary financing to purchase your dream house. But once you kick off a search for a mortgage, you may find that the cost to acquire your dream home falls outside your budget.

When it comes to getting home financing, it often helps to be proactive. Fortunately, if you meet with banks and credit unions before you launch a home search, you can determine exactly how much money you can spend on a residence.

Banks and credit unions employ friendly, knowledgeable mortgage professionals. With these mortgage experts at your side, you should have no trouble getting pre-approved for a mortgage at your convenience.

2. You discover a wide range of problems during a home inspection.

A home inspection likely will be completed in the days after a seller accepts your offer on a residence. And in some instances, an inspection may force you to reconsider whether you want to purchase a house.

If you encounter problems during a home inspection, you still have lots of options. You can ask a seller to perform assorted home repairs or reduce your offer. Or, you can walk away from a home sale and restart your home search.

For homebuyers who are worried about any problems that they encounter during a home inspection, it is paramount to look closely at all of the aforementioned options. By doing so, you can make an informed decision about whether to proceed with a home purchase or reenter the housing market.

3. You employ a real estate agent who fails to help you achieve your homebuying goals.

Many real estate agents are available in cities and towns nationwide. But if you fail to conduct an extensive search for the right real estate agent, you may struggle to accomplish your homebuying goals.

When choosing a real estate agent, you should learn about this housing market professional's industry experience. It also helps to meet face-to-face with a real estate agent and discuss your homebuying goals with him or her. This will enable you to determine whether you're comfortable working with a particular real estate agent.

Enjoy a quick, stress-free homebuying experience – consider the aforementioned worst-case homebuying scenarios, and you can minimize the risk of potential pitfalls throughout the homebuying journey.

About the Author

Author
Niz Brown

Born in San Pedro, California, as a first generation Croatian, I graduated from California State University at Long Beach with a degree in Mathematics and Chemistry and then earned a teaching credential from San Francisco State University. In 1960 I married native San Franciscan Jim Brown. Jim, was a high school teacher before becoming the owner/chef of La Lanterna Restaurant in Kentfield from 1985-1992. He is now retired. I combined substitute teaching in Marin County with the rearing of our four children, all of whom are grown and have settled in Marin. I became intrigued with the world of homes when we acted as the general contractors in building our own home in Woodacre and another home in the San Geronimo Valley. I began to work the carpet business, and became licensed to sell real estate in 1976. I was an associate realtor with other companies before becoming an independent broker and opening my own office in downtown Larkspur in 1991.

Decades of experience in real estate, plus a passion for details, executed in a creative manner allows me to serve in an exceptional manner. I advise my clients on the preparation of a property for sale and use my skills to assist sellers in arranging for staging, clean up, etc. Then I begin the marketing by having the home professionally photographed I create a property website and create fliers and print advertising. The MLS places the listing on all media site. Then when a offer comes in, the negotiation skills and attention to the details of the transaction take over. Other agents often say "you have the nicest listings". I care deeply about the quality of service I provide. When it comes to representing buyers I am patient and tenacious. I am just as excited as the buyer when we find the right home. I love my job!

I network with agents from diverse brokerages. I operate a "bus tour" with 25 professionals from 15 different brokerages. Operating my bus tour is my way of establishing close relationships with colleagues and gives me the opportunity to serve more effectively. Real estate is a unique community of competitors who work together with love and respect and cooperate to serve our clients.

I have developed a passion for photography and painting larger-than-life images of flowers. I am a signature member of the National Watercolor Association. At close of escrow each of my clients is given a choice of one of my prints for their home.