8. Using Verbal agreements: Where are all the appliances in my home? Don't be surprised if you find yourself in such a situation. There are many details that are included in the purchase contract of your home purchase.  There is no way of items missing that you have requested to your seller.  Make sure that every item that you agree on is put in the purchase contract.

It is very hard to prove an oral agreement and even harder to enforce it.  They can lead to a repulsive situation.  Never let miscommunication or failed promises ruin the purchase of your dream home.  Get all commitments in writing no matter how small it is.

9. Not reading loan documents properly: Don’t be in a hurry while signing the documents. It's your sole responsibility to read and accept the terms of your new home loan. Yes, it is pain to go through all the loan documents before signing, but also a bigger pain to sign up for something that you don't want or that you disagree with. It is not a good idea to read all the documents during the closing as you will feel pressurized to complete them quickly due to the presence of a notary and your realtor. 

Take the time at closing to ensure that you understand everything you're signing and thereby agreeing to. Don't hesitate to ask questions or else you could wind up with a home loan with greedy terms.

Read More:

10 Brilliant Money Management Tips for Students

Parents! Teach Your Children These Valuable Money Lessons