Buying or selling a home is among one of the stressful events one has to go through because you have a lot at stake, financially speaking, during the real estate transaction. A good or bad transaction may affect your net worth and your well-being. There are several factors involved in real estate transactions, some of which are beyond your control no matter how well you study the market. For instance, interest rates could increase unexpectedly, or your home inspector might discover a structural defect you were unaware of. However, there are a few precautions you can take so your real estate transaction will go well.

First, you need the right real estate agent who will help you accomplish your goal and find what you’re looking for. If you don’t already have an agent or a mortgage broker, ask your friends or coworkers for recommendations and interview each referral carefully.

One of the common mistakes first time home buyers make is that they underestimate the time it takes for the transaction to finish. Don’t pile on additional work on yourself during the middle of a home sale or purchase so you can manage the stress easier.

Stay involved in every single process of the transaction, up until the closing. Even though you’ve got a professional who’ll help you out, the most they can do is give you advice. In the end, you’re the one who’s making the decision. You’ll definitely encounter problems if you let your agent or broker make the decisions for you because only you know what you want. Be nice but firm towards your agent and let him or her know what kind of services you expect.

Finally, make sure you read and understand every document before signing anything and ask for copies of everything you sign. You need to keep your own copy of the documents even after the closing so in case a problem comes up, you’ll have something to back up your case.

You loved every single part of your home and could find no flaw in it when you signed the contract to buy it. But now you find yourself staying up at night wondering if you made the right decision. There are lots of questions and what-if scenarios running through your head. Most of these questions might be simple to answer, but the deep-seated doubts make you unsure if you want to proceed with the purchase or not. Unless there’s a concrete reason for you to feel this way, what you are going through is a case of Buyer’s Remorse.

Buyer’s remorse usually kicks in when we talk to someone about the purchase. Although your friends and family mean well, their questions about your choice could lead you to doubts, particularly if they’ve been buying real estate for years and this is only your first purchase. But chances are, they don’t know the market as well as you do. It might have been a long time since they last bought anything, or they live in another part of the country. If that’s the case, they’re probably not in touch with today’s prices or the market of the area you want to live in.

Looking at other houses will also stir buyer’s remorse. Stop shopping unless you think that there’s a good chance the contract might fall apart.

If your agent doesn’t guide you through the closing process, that’s probably why you have so many unanswered questions and doubts. Your agent has to be there to assure you that what you’re feeling is normal and to provide answers or advice. Don’t be afraid to ask your agent if you have any questions during closing, no matter how silly the question may sound.

Finally, your own doubts could be the source of your buyer’s remorse. People tend to think about the uncertainties when they make important commitments and dwell on what-if’s. Look at the positives and trust your rational judgment instead of entertaining negative thoughts.

Remember though that your concerns are valid if you cannot get financing, the home inspector uncovers more defects than you can repair, the house does not appraise at a price equal to or more than the contract sales price, the seller does not respect the property boundary lines, or there are problems with the deed. In these instances, your contract should allow you to back out of the sale with no penalties.

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There’s a long list of pros and cons when deciding between buying a new home or buying an old one. People commonly think that the workmanship in the past is superior than construction that is done today, but good or bad craftsmanship can happen at any point in time and there are still builders today with skill and integrity.

The advantage to buying a new home is that they are usually up-to-date with current structural standards and have contemporary conveniences. Often, new homes are built in developing areas, which means that the real estate value of the property appreciates significantly. If you’re thinking in terms of investment and reselling, buying a new home might be a good idea.

Buying an old home also has its own advantages. It’s got stability, character, and that old-fashioned charm from its design features, but many old homes also have obsolete designs, deterioration, and general wear and tear. While some old homes in the market have been renovated to offshoot these disadvantages, not all of the changes are done by qualified persons. Lack of energy efficiency is another disadvantage most old homes have, and upgrading it costs quite a bit of money. When choosing between an old home, it’s always a good idea to bring your own house inspector so you’ll be aware of any structural defects that the seller might have missed out on.

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