Buyer & Seller Do's and Don'ts
Some of the most expensive mistakes in a real estate transaction are avoidable — if you know they're coming. Here's the short list of what actually matters.
FOR BUYERS
Buyer Do's & Don'ts
✓ Do
- Get pre-approved (not just pre-qualified) before you start touring homes
- Budget for closing costs — typically 2-5% of the purchase price on top of your down payment
- Get a full home inspection, even on new construction
- Research flood zones and flood insurance costs before you fall in love with a house
- Work with a buyer's agent — it typically costs you nothing out of pocket
- Move quickly on a well-priced home in a competitive Hampton Roads market
- Ask for and actually read the HOA documents before you're under contract
✗ Don't
- Make large purchases or open new credit accounts between pre-approval and closing
- Skip the inspection just to make your offer look stronger
- Waive contingencies without fully understanding what you're giving up
- Assume "as-is" means there's no room to negotiate at all
- Forget to budget for moving costs and immediate repairs after closing
- Change jobs or quit self-employment income sources mid-transaction if you can avoid it
- Wire funds without verbally verifying instructions by phone — wire fraud targets real estate closings specifically
FOR SELLERS
Seller Do's & Don'ts
✓ Do
- Get a real pricing strategy session before you pick a number
- Declutter, handle small repairs, and clean thoroughly before professional photos
- Be as flexible as possible with showing times
- Review every offer's full terms, not just the top-line price
- Disclose known issues honestly — undisclosed problems tend to resurface anyway
- Get a pre-listing inspection if your home is older or you want to avoid surprises
✗ Don't
- Overprice hoping to "test the market" — it usually costs you time and negotiating leverage
- Skip professional photography to save money
- Be present during showings — buyers act differently (and less favorably) with the seller in the room
- Ignore repairs an inspection is likely to uncover anyway
- Take negotiations personally — it's a transaction, not a referendum on your home
- List before you're actually ready to show it — first impressions on the MLS are hard to undo
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