Protect Yourself When Buying in Kokomo

The best way to avoid making mistakes when buying property in Kokomo (or anywhere else), is to keep your emotions in check and your brain engaged. Here are some tips to help you on the road to making a wise decision:

1. Use common sense. If it sounds too good to be true it probably is! If you see a Kokomo house listed on eBay or anywhere else for $18,000, there is a reason… Usually because it has been rejected by local investors as not worth the time or money to rehab.
   
   
2. Hire your own REALTOR® to represent your interests. It doesn’t matter whether the property is being sold through a REALTOR® or an individual, it’s in your best interests to have someone in your corner who knows the market and can provide you with comparative sales information.
   
   
3. Hire your own appraiser to appraise the property. Don’t accept an appraisal done on behalf of the seller! (If you are getting a loan on the property, your mortgage company will order the appraisal.)
   
   
4. Read and understand all the paperwork before signing. Your REALTOR® should go over all the paperwork when submitting an offer. Ask your lender for copies of all the documents you will be signing at closing. That way you can read them ahead of time and possibly have them reviewed by an attorney.
   
   
5. Fill out all loan documents competely and accurately. Never exaggerate about your income and assets or understate your debts.
   
   
6. Only buy property you have actually seen yourself. Don’t take someone else’s word for the condition and location of a property.
   
   
7. Have the property inspected by a qualified independent inspector. If needed contact licensed contractors for further system inspections (furnace, electrical, plumbing, etc.).

Remember, by doing your own research, investigating all aspects of the property, hiring your own professionals to protect your interests and reading and understanding every document put in front of you, you can avoid costly mistakes when buying a property.

When you are ready to find that great property in the Kokomo area, I am here for you! Just give me a call at 765-513-0354 or send me an email.

Related posts:

1. 5 Ways to Save on Kokomo Homeowners Insurance
2. Avoid Foreclosure – Save Your Kokomo Home!
3. Kokomo First Time Buyers:
   The Dos and Don’ts of Buying
4. Your Credit Score and Buying in Kokomo