Investing in real estate can be as seamless as possible and it can also be a herculean task. One’s readiness to do due diligence or the expertise, experience and genuineness of the seller can make the journey into becoming a landowner a smooth sail.
Every realtor claims to be genuine until it’s time to prove it. How then do we ‘’save’’ innocent people from the market that is overly saturated with different shades of scammers posing as realtors?
Below are the common mistakes people make, that we will advise aspiring investors to avoid in 2022
Working With the Wrong Agents: Before you decide to work with an agent, it is advisable to check the agent’s track record. This is not to downplay them, rather, it is done to avoid stories that hurt. If you ask ten people who have recently bought a property in the past 12 months, the chances are that at least a few of them will tell you a real estate horror story. Which as an industry representative is both sad and frustrating?
Buying Without Seeing the Property: One fact behind buying a property successfully is making out time to inspect what you are investing in. I have heard people who claim to be too busy to inspect their proposed property complain later about how disappointed they are at the end of the day. In a situation where you are truly too busy to go, look out for someone trustworthy who can go and represent you and bring an honest report.
Not Hiring an Agent: It is the job of a real estate agent to know the ins and outs of the market they work in. Real estate is not just about selling properties and many view the business as a quick and easy way to earn money. Some companies go all out to ensure that their sales agents are qualified, educated, and fit to help people invest in properties. Individuals alike are also making headways in this regard to be on top of their games.
Having the Wrong Mindset: ‘’It’s easier for the rich to get property’’ ‘’Properties like this are not meant for me’’ These types of statements are always from a wrong mindset towards getting a property. Rather than thinking someone wants to make money off you, think of the value you are getting and see it as something that can appreciate over time.
Overlooking the Extra Costs: One of the most important questions to ask is to know the extra charges involved in the property you are interested in.
Fun Fact; Every property has extra charges [not hidden charges]. Most times, these charges are meant for your documentation which is your legal backing to prove that you own the bought property