1.         Not getting pre-approved for a loan before the home search.   In this real estate market deals are on every corner and if you think multiple offers situations don’t exist anymore, think again.  Backing an offer with solid pre-approval letters can make the offer stand out and give sellers a confident feeling that it’ll close.

2.         Not being honest with your Realtor or lender up front about your credit.  Credit– whether good, bad, or limited–affects everything from your down payment to interest rates.  Your Realtor or a professional mortgage consultant can often advise how to get credit problems cleared up or completely eliminated.  Higher scores translate into more house for the money! 

3.         Not negotiating with the owner to provide a home warranty.   Sellers will provide such when asked.  A typical warranty covers the electrical, plumbing, heating and air conditioning systems as well as major home appliances.  Buyers, ask for this!

4.         Not requesting a market analysis of the home.  Compare to similar homes in Portland neighborhoods or throughout the city from your Realtor before you make an offer.  A home is not just a place to live—it’s an investment in your future.  View several homes before making an offer and know what’s on the market.  Be certain this is a wise investment not overshadowed by emotion.

5.         Not inspecting a home before you buy it.  Hire a professional to inspect every aspect of the home thoroughly.  This can save you thousands of dollars in costly repairs and hundreds of headaches in the future.  A thorough inspection report can open the door to negotiation of repairs prior to close.

6.         Not being aware of who the Realtor works for.  The agent you are working with does not necessarily work for you.   Unless your agent is working as your buyer representative, they are working for the seller.   Usually, home buyer agent services are free since commission is paid by sellers or homebuilders. 

7.         Not taking into account your present homeowner or renter status.    If you already own a home and must sell before buying a new one, it’s best to get a Realtor to do a complete market analysis.  Often sellers have pie-in-the-sky ideas of what their home will sell for.  Today your home better be in top shape, staged well, and most importantly priced below the competition.  If you are leasing or renting, the lease’s expiration date will give you a timetable for your new purchase.