• Looking for a house without pre-approved finances:
    When you are pre-approved, you can pay in cash. This makes negotiation with the seller much easier. Pre-qualification is only the first step in gaining pre-approval, and should not be confused.
  
• Purchasing a house without scoping out the neighbourhood:
     Buying a home is what some people might call: permanent.
  How do traffic patterns change depending on the day, or even the time of day? Are there any plans for future developments in the area? Is that nice greenspace down the road actually zoned for high-rise development? Ask your potential neighbours - check it out first.
  
• Making an offer based upon the asking price
     Know the actual market value of your potential home. What have similar properties sold for in the immediate area? How long were they on the market? How does this one compare? Is it over-priced, under-priced, or fair value? Ask your Realtor for an up-to-date market summary.
  
• Letting "first impressions" dictate your choice:
     Home Sellers have tricks to make you want their home. Fresh aromas, fresh paint, fresh landscaping... but what if there is a funky structure underneath the furnishings? Don't let bad décor or messy housekeeping scare you away from a structurally solid home that meets all your needs.
  
• Not getting a professional house inspection:
     By getting a trained and experienced person to "kick the tires". not only will you know what you are buying, but these reports will protect you from unforeseen nasty surprises in both the short and long run.



• Assuming that Bank rates are written in stone:
     The financing industry is very competitive. As an incentive, institutions are often willing to negotiate mortgage rates. Depending upon the market and profit spreads, it is sometimes possible to negotiate substantial savings.
  
• Last Minute Home Insurance Shopping:
     If you wait until the last minute, you will be rushed in finding insurance. Lower your stress level, and shop around as much as possible.
  
• Not Reading Documents before you sign:
     Get copies of all documents early on in your home search so that you can read them at your convenience.



• Making verbal agreements:
     Not only are they harder to enforce, but any written contract you sign will override a verbal agreement. Law dictates that verbal agreements are not enforceable when they deal with Real Estate. Always, Always get it in writing!



• Not knowing your rights and obligations:
     Not knowing your right leaves the door to being taken advantage of on with a flashing neon sign. Not knowing your obligations may cause friction between yourself and those with whom you are about to enter a contract. Both your Realtor and Lawyer are great sources of information concerning this - Go ahead, utilize their expertise and resources, you pay them for it.

10 Mistakes To Avoid in Selling Your Home

• Pricing Incorrectly (the thin line between too low and too high):
     The proper pricing of your home is essential to maximizing your proceeds from the sale. It should be as high as the market will allow, yet not out of touch with reality. It should be reasonable enough to encourage buyers to see your home, yet high enough to leave some room for negotiation. Realtors know how to price your home because they know the marketplace in terms of today's values.
  
• Failing to "Showcase" your home:
     Remove unnecessary clutter from all major storage areas, and clean up the extra clutter. Also remove any items that some may deem to be offensive. Consider putting some things into storage to create more room. If a room needs a fresh coat of paint, use a neutral off-white. Think, too, about how your home smells. You may be used to the smell of a pet or cigarettes, but such odors can turn-off others. Set a mood for the buyer. Place scented potpourri around the house or, on the day you’re expecting a potential buyer, or pop in a batch of cookies into the oven for a welcoming aroma. Finally, be certain to remove valuables such as jewelry and other items from view. It might be wise to put these items in a safe deposit box before showing your home.
  
• Mistaking a Bank's appraisal or a new Tax Assessment as your home's actual market value:
     The financing industry is very competitive. As an incentive, institutions are often willing to negotiate mortgage rates. Depending upon the market and profit spreads, it is sometimes possible to negotiate substantial savings.
  
• Choosing the wrong Agent or choosing an Agent for ill reasons:
    When choosing an Agent, you are selecting someone with whom you should be comfortable entering a contract. You need full confidence in your Agent's experience and abilities. You want an Agent who can explain the whole selling process to you, has a keen sense for the market, has access to promotional tools and offers insight on how to improve your chances of selling. Try to avoid choosing an Agent on the basis of which one gives the highest estimate of your home's value. You must know the market value of your home, this allows you to properly price your home, thus maximizing your chances of selling.
  
• Failing to take heed to current market trends:
  Is it a Buyer's market, a Seller's market, a Balanced market? What do future trends look like? Ask your Realtor for a full analysis
.


• Not taking advantage of market fluctuations:
     If your $200,000 home has dropped 10% in value, so has your $500,000 dream home. Yes, you lose $20,000 on your current home, but you save $50,000 on your next purchase!
  
• Using Hard Sell during showings:
  No one likes the sales tactics employed by a used care. As well, buyers might wonder why you are so anxious to sell. Let your home speak for itself.
  
• Mistaking "Lookers" for "Buyers":
     Many people who look at homes for sale may just be getting a feel for the market, seeing how others 'showcase' their homes, or even just looking for decorating ideas. Your Realtor deals with these situations on a full-time basis and has the experience needed to separate the "Lookers" from the actual "Buyers".



• Relying heavily on advice from the Buyer's Realtor:
     The interests of buyers and sellers are often opposing. In an agency relationship it is very difficult for one Realtor to look out for the interests of both parties. You might want to weigh out the value of any information supplied by the representative of your potential buyer.
  
• Limiting the market exposure of your property:
     A good Realtor is responsible in marketing your home to the maximum number of potential buyers. You should make sure that your Realtor is connected to the vast listing service and resources available to showcase your home.