Common Home Buying Mistakeslocal marketNot understanding a local market and all that is available. foreclosuresThinking that it is both safe and easy to buy foreclosed and short sale homes. These purchases typically have extra or different processes than normal transactions. pricingNot understanding pricing and the value of certain amenities. negotiatingWeak negotiating. This mistake alone can cost the buyer thousands of dollars. inspectionsNot requiring the proper inspections and/or not understanding these reports when an inspection is done. pre-approvalNot understanding the importance of being pre-approved by a Lender prior to beginning the home buying process.