TOP MISTAKES OF HOMEBUYERS IN 2005

Released: February 16, 2006, National Association of Realtors

Buyers

- Bought properties to flip at top-of-market prices
- Utilized interest-only mortgages, paying top-of-market prices
- Overlooked resale characteristics, especially in upgrades in new
home construction
- Skipped performing a home inspection (especially before some
markets shifted away from seller's market)
- Misinterpreted developers giveaways (which usually signal a
softening market)
- Were represented by the same agent as the sellers
- Didn't read homeowners' association documents
- Neglected to request rates of state, county or local transfer
taxes paid by buyers at closing