As a home buyer you don't know what you don't know. Ignorance can be bliss. But you don't have to go it alone. There are tons of great buyer's agents that will help you through the process.

1. You Don’t Know What you Don’t Know!
merrimackvalleymarealestate.com /7-home-buyer-mistakes/
7 Home Buying Mistakes to make, because you don’t know what you
don’t know!!
It amazes me how many home buyers are blindly running around with little or
no guidance. This article will discuss 7 Home Buying Mistakes.
I have been doing real estate full time for 13 years. It took me 5 years
before I really felt comfortable with what I was doing. I spend 50+ hours a
week immersed in the business of real estate and have been involved in
hundreds and hundreds of real estate transactions. Let me tell you as a
home buyer you don’t know what you don’t know! and that is what will
make your purchase less than ideal.
That’s why a good buyer’s agent can worth their weight in gold.
7 Home Buying Mistakes
1- Going directly to the listing agent to save money
Thinking you are saving money by
going directly to the listing agent.
Guess what… your just giving the
listing agent a great pay day.

2. I charge the same commission
irregardless of whether I sell my own
listing or not. So by coming directly to
me you have given me a great pay
day. I don’t have to split the
commission with another agent.
On top of it you are unrepresented
and you are taking on a lot of liability
yourself. Understanding your “legal”
relationship with an agent is very
important. When you go directly to a
listing agent they work for the seller
and owe them fiduciary responsibility.
The listing agent cannot counsel or
guide you in any way that
disadvantages their seller.
1-Not understanding the current market conditions-
Most home buyer’s perception of current real estate conditions are 6 months to
a year behind current conditions.
What I find is home buyers are believing current conditions are far behind what
they are today. In a turning market 6 months to a year can be huge.
Understanding current market conditions will dictate how you look for
properties and negotiate on properties.
Try low balling offers in a market that has heated up and you are going to be
writing a lot of offers with no results.
2- Thinking short term-

3. As a buyer’s agent I encourage buyers to think for the intermediate and
long term. Do not make a purchase based on your immediate needs
alone.
Unlike renting where it is relatively easy to change your living situation
there is a cost to selling your home. You have real estate commissions and
selling costs. For many first time buyers and even move up buyers, they
are putting relatively low money down on a home and it is not so easy to
sell if you discover that you have not taken all your considerations into
buying a home.
Think about space and community needs, now and the immediate future….
is your family going to grow soon, if you are in a career where you change
jobs often are you centrally located, etc…
3-Not understanding where your reality lies-
Over the years I have run into many home buyers who are totally frustrated
with their home search. They have an idea and they stick to it even though
it is not working.
What do I mean? Many time a home buyer will be looking in a price range in
a community that is non-existent or mostly not existent. When meeting
with a home buyer the first time we look at past history of what has sold to
give them an idea of what is the likeliness of finding what they are looking
for.
If the likeliness is low to impossible we consider other options.
For example, I recently ran into a buyer that was insistent on new
construction. Their budget was 525k and under. The problem was they
were looking in Lexington, Bedford, Sudbury, Andover and more. All of the
high end communities where there is no new construction anywhere near
their budget.
After showing them what they were looking for was impossible we chose
other communities where it was possible to get what they wanted. After a

4. year of frustration, we immediately moved forward on a house they loved.
4-Failure to do due diligence–
Home buyers are willing to just take the word of a listing agent or seller
about certain conditions of the home. When I work as a buyer’s agent
with a home buyer, I tell them to trust no one and if something is important
to them to do their own due diligence.
I am not even saying that sellers lie, I am just saying that sellers think they
know something when they do not.
For example, many sellers selling their home with an in-law apartment will
say it is legal when in many cases when I go to the town to verify the claim
and it is not legal and we cannot even make it a legal in-law apartment. If
you are relying on a piece of information that is important to your buying
decision or may affect value, verify the information yourself. It will eliminate
many future headaches and disappointments.
Again, working with a buyer’s agent will prevent these problems. First a
buyer’s agent will know when and what to look for and also assist in getting
you the proper information.
5-Not understanding the fair market value of a home-
In general a home is worth what it is worth regardless of your situation as a
buyer. If a house is listed fairly at $350,000 it isn’t worth $300,000 just
because you can’t get financed for more or you have to build a garage
because you really want one.
Determining the fair market value of a home will determine how you
negotiate for a property.
I recently had a buyer tell me a house he wanted to purchase was only
worth $300,000 on a $350,000 list price.
He wanted the house and he could afford it. I told him it was worth every

5. penny based on my research and would probably go 10-20k over asking.
My customer insisted it was only worth 300k and tendered an offer for such.
He didn’t get the property and it went well over asking with over 12 offers on
the property.
I asked him afterwards why he thought the property was only worth 300k
after providing home with data it was worth far more. He said that is what the
tax assessment was. I then explained to him that tax assessment had
nothing to do with the value of a home based on selling in an open market.
Boy, did he have a disappointed wife! When buying a home remember it is a
home! It is more than just an investment or a number. I am not saying that
you should make bad decisions, but there is certainly more at stake than
money.
6- Not knowing how to negotiate-
Finally, the last of 7 home buying mistakes. There are many facets that
successfully go into negotiating a real estate deal.
In today’s real estate market, the tables have turned and the sellers are in
control. The last few houses I have listed every home had multiple offers
and all but two went over asking.
When negotiating it is important to understand the true fair market value of a
house as well as what is trending in market conditions, combined with your
desirability of a house. Blindly low balling an offer will lead to a lot of
heartache and wasted time and effort. A buyers agent can help you craft a
negotiating plan that will increase your odds of having your offer accepted.
These are just 7 home buying mistakes. Of course their are many more to
be made. The great part is you can have help…. lots of it, by working with
a seasoned Massachusetts Buyer’s Agent . A buyers agent is a counselor
and an advocate. Think of a buyer’s agent as a home buying consultant,
not a sales person.

6. This article, You Don’t Know What you Don’t Know! 7 Home Buying
Mistakes , was written by Kevin Vitali of EXIT Group One Real Estate. I
have been practicing real estate for 14 years and have the experience of
hundreds and hundreds of closings under my belt. if you would like to
maximize your next home purchase give me a call at 978-360-0422.
Home Buying Testimonials
"We were first time homebuyers and we immediately felt
comfortable with Kevin and confident he'd help us find our
first home. He never pressured us to look above the price
range we gave him and he was patient with our many
questions! In the end, he helped us find exactly what we
were looking for. His knowledge & and experience with
the entire process through closing helped put us at ease
during what is a very stressful time."
"We were first time home buyers, and Kevin made it easy
and painless. He has a great deal of experience, and
helped us through each stage of the process. He was
very responsive over the telephone and email, and very
accommodating when setting up appointments."
" very helpful in assisting my wife and I to understand the
market available as well as helping us clarify our needs
and desires. He never rushed or pressured us and
provided good opportunities to review, and was tireless
working on our behalf. His feedback as we looked (for a
number of months) helped us further refine and detail our

7. needs, desires, and interest. Always frank, and honest,
while being respectful. Keven led us through the path to
our new home.. And then helped us to make realistic
offers.. and to bring the price of the home down as well. I
can't say enough good things about Kevin.... I have
recommended him to several friends already, and will
continue to do so in the future."
5/5