11 Common Mistakes to Avoid When Buying Your First Home
Avoid these first-time homebuyer goofs so you can get the best deal on the right house for you (and make the process easier too).
Mistake #11: Skipping the walk-through
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You’ve got a contract and a loan—all that’s left is the closing, and the keys will be in your hands. Congratulations! But first-time homebuyers should not take a pass on walking through the property just prior to closing. “The walk-through is not an additional inspection, but a visit to make sure the house is in the same condition it was when you put it under contract,” says Mendenhall. When Grace Spencer and her partner bought a co-op apartment in New York City, they did do a walk-through, but the timing was off: “We did our walk-through the day before closing. The current owner hadn’t fully moved out yet. Our agent advised us to go back the next morning before closing, but we ran out of time.”After the closing, Spencer excitedly went to the new apartment which still had stuff from the previous owner. Thankfully, Spencer’s lawyer helped negotiate a payment from the previous owner, and there was no lasting damage. Next, check out the 31 best home improvements that will double the value of your home.