1. Overpricing or underpricing: Sellers may overprice their property, deterring potential buyers, while buyers may underbid and miss out on good deals.
2. Skipping inspections: Both parties may skip essential inspections, risking hidden issues with the property.
3. Not understanding the contract: Failing to review and understand the terms of the contract can lead to disputes and legal issues.
4. Ignoring market conditions: Buyers and sellers who don’t consider current market conditions may make poor decisions regarding timing and pricing.
5. Emotional decisions: Letting emotions drive decisions can lead to impulsive choices that may not be in one’s best interest.

It’s crucial for both buyers and sellers to do their research and work with experienced professionals to avoid these common pitfalls.