Top home-buying mistakes revealed

Many overlook permits, maintenance, local economy

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The first rule of inspecting a home you want to buy is to stay intimately involved in the process, and to leave no stone unturned. If you're busy or traveling during the time period, you have to complete your due diligence investigations by enlisting the aid of a friend you trust to stand in on your behalf -- someone who will keep you well informed as inspections proceed. Buyers want to be sure they get a good deal on the home they buy. This is especially so if they're buying in a soft market. Whether a property is a good deal depends on its condition, its location and the price paid. Most buyers don't take the inspection process far enough. They hire a home inspector to do a general home inspection to make sure that all systems are in working order and that there aren't any serious defects that might affect their decision to buy or not. For some buyers, this constitutes their due diligence inspection of the property. But, in many cases, simply having a home inspection do...