Everyone has heard the horror stories of Real Estate Transactions that went crazy. It can happen to most anyone. The best thing to do is be prepared so it doesn't happen to you. Here are perhaps the 10 most deadly mistakes a home buyer can make.

1. Make an offer on a home without being pre-qualified. Getting yourself pre-qualified will definitely make your life easier. Take the time to speak with your lender. You need to make sure they have access to all of your pertinent information. How much you make, and how you make it. The amount and availability of the funds necessary to close escrow, as well as the amount and type of credit you have. Arme3d with this information, Your Mortgage Originator can validate the amount of home loan you will qualify for. Armed with this knowledge, you can make sure you do not make an offer on a home that you cannot afford.

2. Who needs a home inspection? You do. A home inspection is sort of like "kicking the tires". If you are going to be spending $50,000 or more on a single investment, you need to at least know what the problems are. Buying a home without an inspection is sort of like buying a car without test driving it and with your eyes closed. What the inspector finds may not deter you from the purchase, but you are at going in with your eyes open.

3. Limiting you search to just what you find on the internet. The internet is a great place to start, but will never take the place of a quality Real Estate Agent. Many times an Agent will have more up-to-date data for you to work with.

4. Thinking there is only ONE PERFECT home out there for you. At any given time, there are hundreds of homes available. The job of your Realtor (R) is to help eliminate those that don't fit your needs wants and desires.

5. Not considering you long-term needs. You need to think about how this home will fit your life in several years. If your family is growing, will it be too small. If your family is beginning to leave the nest, will it be too big.

6. Not considering insurance costs. Insurance premiums are impacted by the home's value, location and previous claims history. Make sure your Insurance agent gets you a CLUE report on your prospective home as early as possible.

7. Not buying a "Home Warranty" Even if your home inspector finds noting wrong with your home, "Life Happens!" A Home warranty is an inexpensive way of insuring you don't get stuck with a huge repair bill if the A/C or Stove go out. Ask you Real Estate Agent about it.

8. Not knowing how much you will need to Close Escrow. Don't even think about going shopping for a home until you are pre-qualified. During this process, your chosen Loan Originator will provide you with information regarding your down payment and closing costs.

9. Not Choosing a Real Estate Agent who is committed to your success. There are many Real Estate Agents that act as agents when they are not busy with their regular job. Full time agents tend to be more Professional and knowledgeable. Isn't that the kind of person you want working for you?

10. Picking Any Old Lender, Because "They are All The Same". There is a huge difference between Loan Originators. This is one of the biggest purchases of your life and you certainly don't want it in the hands of someone who is not competent or who is a novice, or worse, is an incompetent novice. Especially in today's world, you should be working with a Licensed Mortgage Originator. Unlike many employees of the big banks, who are not licensed, A Mortgage Banker/Broker is required to undergo over 20 hours of training, and then is required to take at least two separate tests proving they are competent in State and Federal Regulations as well as Ethics. Then, after passing these tests and a background check, and only then are they granted a license. So when you choose your lender, choose wisely. You can check out the qualifications of anyone allowed to originate mortgages at www.NMLSConsumerAccess.org.