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Friday, December 30, 2005

Real Estate Pitfalls

One of the nice things about having a blog is that I can use it to keep track of things that I might want to refer to later. With a little luck, we might be selling the Unknown Mansion (and buying another one) in 2006. So, I'm putting this post up as a reminder to myself if and when I start the process. If you're also in that boat, here are some mistakes to avoid (from MSN Real Estate):
  • Not understanding the length of the process
  • Exposing your hand
  • Skipping the loan preapproval step
  • Assuming appraised value equals market value
  • Timing the "bubble burst"
  • Hiring the wrong agent (been there, done that, bought the shirt)
  • Missing the big picture
  • Not knowing what you're signing
  • Poor timing
  • Not doing your due diligence with a criminal search
Click here for the whole thing. (HT: Consumerism Commentary)

We managed to avoid most of these pitfalls the last time we did this dance but skill messed up on a few. Hopefully next time will be even better.

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