8 Big-time Buyer Mistakes #7

#7 - Failure to fully understand your rights and follow through on your obligations as purchaser as set out in the purchase agreement

It is important to completely understand all the terms, details, conditions, and commitments of the purchase agreement before you sign it and the offer is presented. Inaccurate assumptions, poorly written or missing contractual clauses, or failure to fathom both the lawís and the contractís requirements of you can lead to dangerously increased costs at the very least.

At the risk of sounding like a broken record, utilize the professional expertise of a good real estate agent. If you are saying to yourself, ìI have bought and sold a number of properties by myself before,î please post a comment to this blog at the bottom of the page. The case law that applies to residential real estate just in the State of Michigan is (like all statutes) complicated and constantly changing. If you were really saving yourself a significant amount of money by not using a real estate agents services and thought you might risk it, that would be one thing. But as readers of this blog, you know that a buyerís agentís services are free to buyers, soÖ

Last Updated: November 14, 2007